Real Estate/Financing

What is a Seller's Closing Statement?

A Seller's Closing Statement is a statement that can be provided to a seller by the escrow company which shows all related costs of the sale including any payoffs to any current li ...

Is My Personal Property Safe During Showings?

Just like showings conducted through other platforms or with a traditional real estate agent, personal property is generally safe during showings, however, it's important to be cau ...

What Are The Benefits Of Getting Preapproved For A Mortgage On Homepie?

Preapproval offers several significant advantages for potential home buyers:Strengthens Your Offer: A preapproval letter indicates to sellers that you are a serious and financially ...

What Is an Appraisal?

An appraisal is a detailed report that ultimately determines the current market value of a home. The appraiser will come out to the home, measure, and take pictures. They will also ...

Why Get Pre-approved?

Make your offer stronger, know how much you can afford, estimate your monthly payments, and budget for down-payment. This process is essential for your success. Savvy sellers wil ...

What Are Property Inspections?

Property inspection refers to any and all inspections that the buyer may want to do. This includes a home inspection, pest inspection, HVAC inspection, plumbing inspection, foundat ...

What Is a Notice to Perform and How Do I Use It?

A Notice to Perform is a document used in conjunction with the purchase contract to help enforce an obligation by one of the parties. Once you issue the Notice to Perform, the part ...

What if an Agent Represents a Buyer and They Want to Buy My Home?

If an agent contacts you with an interested buyer, it’s your choice as to how to proceed. They will almost certainly want a commission to be paid to them, so you will probably want ...

What Is Meant by the Escrow Period/Days to Close?

A typical escrow period is 30-45 days when the buyer is getting a loan. If you want to close faster, be sure to consult the lender to make sure it’s possible so that there aren’t a ...

What Is a Contingency?

A contingency is essentially an exit clause in a contract. In regards to real estate and the purchase contract, a contingency protects a party from a future unknown event.For examp ...

What Is A Down Payment?

If you are applying for a loan, you will usually be required to make a down payment. The more you put down, the stronger your offer, and the lower the risk to the lender. That bein ...

Is It Important to List My Home on My Local MLS?

There is a widespread misconception that if you are not on your local MLS, you will not sell your home. This used to be true before the widespread use of online real estate portals ...

What Is a Pest Inspection?

The completion of a pest inspection, also called a termite inspection, is common depending on your area. It’s usually affordable and quick to have completed. The inspector will loo ...

How Do I Evaluate an Offer I Received on My Home?

If you're not familiar with a real estate deal and all the nuances that come along with it, knowing which offer to accept or knowing if an offer is good can seem tricky. Here we wi ...

What Is a Counteroffer?

A counteroffer is the offer a party makes as a response to an offer or counter offer. In a negotiation, all subsequent offers to the initial offer, no matter which party is initiat ...

What Is a Good Faith Deposit?

A good faith deposit is a sum of money that you place into escrow showing the seller you have some skin in the game. It's typically refundable if you cancel your contract under a c ...

There Is a Tenant in the Property. What Do I Do?

If there is a current lease, you typically need to buy the property subject to the lease. Having a lease, the tenants have the legal right to occupy the property until their lease ...

What Is a Seller Credit?

When a buyer is writing an offer, they will notice there is an option to ask for a seller credit. This is purely optional and is a negotiable item just like everything else.Sometim ...

How Do I Start The Preapproval Process On Homepie?

Initiating the preapproval process is straightforward:Click the ‘Get Loan Badge’ button on any listing, or select the ‘Get a Loan’ link from the top menu.Complete the form to conne ...

What Is a Home Inspection?

The home inspection is the most common and could be the most important. Be sure to give yourself enough time to complete this inspection as well as time to further investigate anyt ...

What Is a Home Warranty?

A home warranty is typically a one year warranty policy that protects the homeowner against the failure of certain systems and appliances of a home. It can give a buyer a lot of pi ...

What is a Sale Contingency?

The sale contingency is typically used by a buyer who must sell a home before they can purchase a new one. Usually this is because the buyer can’t qualify for two mortgage loans at ...

What Is a Loan Contingency?

The loan contingency gives the buyer peace of mind of knowing they can get full underwriter approval before removing the contingency. The loan approval process at times can consist ...

How Do I Price My Home?

Pricing your home accurately is crucial for a successful sale on Homepie. While you have options like hiring an independent appraiser or using Homepie’s pricing review service, sel ...