What is a title search and why does it matter?
A title search reviews public records to confirm who owns the property and to uncover liens, unpaid taxes, easements, or other claims against the title. A clear title search is essential for closing because most buyers and lenders require “marketable title” before they’ll fund the transaction.
What are common contract contingencies I should know?
Common real estate contingencies include inspection, financing, appraisal, sale-of-buyer’s-home, and sometimes title or HOA review. These clauses give buyers defined timeframes to investigate the property and their loan; if contingencies aren’t satisfied, they can usually cancel and keep their earnest money. As a seller, understanding each contingency helps you judge offer strength and timelines.
What is title insurance and do I need it as a seller?
Title insurance protects buyers and lenders against financial loss from covered title defects that weren’t found during the title search. In many areas sellers provide (or pay for) an owner’s title policy as part of the deal, which gives buyers peace of mind and helps the transaction close smoothly.
What is an inspection contingency and how does it protect me?
An inspection contingency lets the buyer hire inspectors and then request repairs, credits, a price reduction, or the option to walk away if serious issues are found. It protects buyers by ensuring they’re not locked into purchasing a property with undisclosed or unexpected defects. For sellers, it’s a critical phase where you may renegotiate, agree […]
What is an iBuyer and should I consider selling to one?
An iBuyer is a company that uses data and technology to make quick, cash offers on homes, often with flexible closing dates and minimal showings. You trade some of your potential top-dollar price for speed, convenience, and certainty, so it’s worth comparing the net from an iBuyer offer to what you might get on the […]
What is a financing contingency?
A financing contingency gives buyers time to secure a mortgage and protects them if their loan is denied or terms change significantly. If they can’t obtain financing within the agreed period, they can usually cancel the contract and recover their earnest money as long as they followed the contract terms. Sellers should watch the contingency […]
How does selling on Zillow Offers work?
Zillow Offers was an iBuyer program where Zillow made cash offers, handled repairs, and then resold the home, but the company has since exited that line of business and no longer buys homes directly. Today, Zillow mainly connects sellers with agents and marketing tools rather than acting as a direct buyer.?
What is a deed in lieu of foreclosure?
A deed in lieu of foreclosure is when a homeowner who cannot keep up with payments voluntarily transfers ownership of the property to the lender to avoid formal foreclosure. In exchange, the lender typically releases the borrower from the mortgage debt, though terms and credit impact vary by agreement.
How do I sell a home I inherited?
First confirm you have legal authority to sell: probate completion, recorded inheritance, or trustee/power-of-attorney status if applicable. Get a current market valuation, address any deferred maintenance, and decide whether to sell as-is or do light updates for a stronger price. Work with an agent and, if needed, an estate attorney or CPA to coordinate title, […]
What are the tax implications of selling an inherited home?
Most heirs receive a “step-up” in cost basis to the property’s fair market value at the date of death, so you’re generally taxed only on appreciation after that point. If you sell soon after inheriting at roughly that value, capital gains may be minimal or zero, but selling later at a higher price can create […]