Expert Realtors in Lakewood, NJ

The exact time it might take to sell your home can depend on a few things, including time of year, local market conditions and home conditions. Some things you can do to help your home sell faster are make impactful repairs, such as painting or adding new carpets. Working with a One real estate agent who knows the area well will also ensure your home is priced competitively.

If the built-up equity in your current home is going to be applied to the down payment on the new home, naturally the current home will need to be sold first. Some home buyers decide to turn their current homes into an investment property by renting it out. In that case, the current home will not need to be sold. However, your loan advisor will need to evaluate your risk profile and credit history to determine whether making a loan on a new home is feasible while retaining the current home.

As a home buyer, you can back out of a home purchase agreement. However, with no contingencies written in the contract, you may face costly consequences such as losing your earnest money deposit. The ability to back out of an accepted house offer is good news. Even if the home is under contract, you can walk away from the sale. But the potentially negative consequences tend to grow the further along you get in the homebuying process.

An FHA loan, or Federal Housing Administration loan, is a mortgage option backed by the U.S. government, designed to assist home buyers with lower down payments and more lenient credit requirements. These loans are popular among first-time homebuyers and those with limited financial resources, as they provide access to affordable housing financing through approved lenders while offering borrower protections. FHA loans are particularly known for their down payment flexibility and are often sought by individuals who may not qualify for conventional mortgages.

While a final walk-through is not required, it is highly recommended. The final walk-through gives buyers a chance to make sure nothing has changed since the initial inspection or previous visits. In addition, if repairs were agreed on as part of the sale agreement, then a follow up walk-through can verify that all repairs were done according to the agreement and contract.