Found 2 blog entries tagged as real estate purchase.

What "Under Contract" Means in Real Estate

If you've been browsing home listings, you've likely noticed some properties marked as "under contract" or "pending." These terms signal an important shift in the home-buying process, and understanding what they mean can help you navigate your search more effectively—whether you're buying or selling.

The Basic Definition

When a property is "under contract," it means the seller has accepted an offer from a buyer, and both parties have signed a purchase agreement. However, the sale isn't final yet. The transaction is now in a period where certain conditions—called contingencies—must be satisfied before the deal can close.

Think of it as a commitment with conditions. The buyer and seller have agreed…

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The Truth About Down Payments: More Options Than You Think

Contrary to popular belief, purchasing a home doesn't always require a substantial down payment. Various programs offer low to zero down payment options, making homeownership more accessible than you might expect.

Zero Down Payment Options

USDA Rural Development Loans

This program requires no down payment for homes in designated rural areas. Importantly for local residents, all of Lincoln County qualifies as rural under USDA guidelines. Requirements include:

  • Meeting income limitations
  • Having a satisfactory credit history
  • Using the property as your primary residence

VA Loans

Veterans Affairs offers loans with no down payment requirement for qualifying military…

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