Tag: Transaction FA Qs

Posted on 08/11/2021
What Are Closing Costs? | Tip Tuesday
Browse the market and read our blog | https://homesbyhenson.net/ Instagram | https://www.instagram.com/homesbyhenson/ Facebook | https://www.facebook.com/HomesbyHenson Twitter | https://twitter.com/homesbyhenson ---------------------------------------------------------------------------------------------------- Hi, we're Chantel Henson and Betty Stringer and we'd love to assist you. We are a mother-daughter team, committed to assisting you with your Real Estate needs! Providing you with Local Real Estate updates and advice for Monterey, Santa...
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Posted on 07/07/2021
Sellers: What Happens After You Accept an Offer? | Tip Tuesday
Congratulations on getting an acceptance! Here are somethings you can expect along the way: Time Frames: You will receive a Contingency Time Frame Letter. This letter is a summary of all our time frames as per our contract terms. Here is a TIP TUESDAY you might find informative regarding this subject: What is a Contingency? Part 1 https://homesbyhenson.net/blog/post/1185161...
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Posted on 06/16/2021
What to Expect After Your Offer Gets Accepted | Tip Tuesday
Congratulations on an accepted offer! Here are some things to expect in the next week or so: Time Frames: The acceptance date is day 0 and when all time frames begin. Here is a TIP TUESDAY you might find informative regarding this subject: What is a Contingency? Part 1 - https://homesbyhenson.net/blog/post/1185161 What is a Contingency? Part 2 -...
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Posted on 04/28/2021
What is a Notice To Perform? | Tip Tuesday
There are so many little things that contribute to the Residential Purchase Agreement contract. We now know what contingencies are and what purpose they serve....So what happens if a buyer doesn't remove their contingencies? What can the seller do? Well, that is what the 2 day notice to perform is for. If a buyer has not removed their...
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Posted on 04/21/2021
What is a Final Walkthrough? | Tip Tuesday
It's the final countdown....one of the very last steps. What is it and why is it important? The final walkthrough is completed by the buyers and is one of the very last steps before closing escrow. It is NOT a contingency of the sale. See the link below to watch our Tip Tuesday on this subject. In the...
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Posted on 02/24/2021
What is the Earnest Money Deposit? | Tip Tuesday
So, the Earnest Money Deposit (EMD). What is it? How is it used? Is it refundable? This one was quick and easy. The Earnest Money Deposit is also known as the "initial deposit" made by the buyers when buying a home. It is money that gets put up front, and is held in escrow, while buyers complete their...
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Posted on 02/17/2021
What is a "Contingency" in a Contract? PT 2 | Tip Tuesday
Here is another video on contingencies. Are you a seller? This one explains what to expect during a buyer's contingency time frame and what your rights are. A contingency is a condition that has ro be met prior to the close of escrow, or prior to the transaction continuing on. How does a buyer's contingency timeframe affect the...
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Posted on 12/16/2020
What is a "Members Only" Listing? | Tip Tuesday
This just in! No, really. MLS Listings has released 2 new listing types, or categories, as of December 1st. What does this mean for you? First off, MLS Listings is the website, portal, platform, whatever you want to call it, that ALL Realtors go to post houses for sale. This is also where third-party sites like Zillow, Redfin,...
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Posted on 12/02/2020
What is an Appraisal? | Tip Tuesday
Happy Tuesday! Let's talk appraisals. So, when you are buying a home and getting a loan, the lender will hire an appraiser as their "eyes and ears". They will go to the property and visually inspect the condition of the home. They want to make sure there is not major damage or danger to the home and that...
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Posted on 11/25/2020
The Importance of Getting Inspections | Tip Tuesday
As a buyer, you have a lot of decisions to make. You may worry about spending money on a home that you haven't even bought yet. But, it can save you a LOT more money and headache in the long run! This home is an INVESTMENT! Treat it that way. You ever hear the phrase "You have to...
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Posted on 11/03/2020
Contingency of Seller Finding a Replacement Property | Tip Tuesday
So, you are a homeowner, you want to buy a new home, but you need to sell your house first. Maybe you do want or can't qualify for two mortgages and you don't want to keep the house and rent it out. One of the most common reasons- You want to take the equity you have in your...
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Posted on 10/29/2020
What is a Contingency? | Tip Tuesday
You hear the word a lot in a transaction...but do you know what it actually means? We wanted to keep the explanation very simple. A contingency is a condition that has to be met PRIOR to closing escrow (officially finalizing the sale of a home). If you cancel during your specified contingency, it allows the return of the...
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