LegalLife Multistate Guide and Handbook for Selling or Buying Real Estate - Mississippi 2025

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How do I become a REALTOR? Must be 18 years old. Must be a resident of Mississippi prior to completing the application. Must complete a minimum of 60 hours of MREC approved real estate courses. Must pass the state licensing exam. Must work under the supervision of a Mississippi real estate broker.
Affordable Rates and Prices The state consistently ranks among the most affordable places in the U.S. to buy real estate, making it an excellent choice for both seasoned investors and those just getting started.
Mississippi Attorney Involvement Attorneys must prepare every legal document not prepared by a party to the transaction, including Warranty Deeds, Promissory Notes and Deeds of Trust, etc. Non-Attorneys may conduct closings but may not give legal advice.
To qualify for an FHA loan in Mississippi, borrowers need to have a minimum credit score of 500 but may be required to have a larger down payment. A credit score of 580 or higher can qualify you for a 3.5% down payment. What is the max FHA loan in Mississippi? FHA loans have maximum loan limits based on county.
By law, you are required to have a Mississippi attorney prepare or oversee the preparation of the deed. With that said, if a buyer and a seller only wanted to swap a deed for cash, they could do that without an attorney. While these deals are valid, they also come with potential pitfalls.
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Here are the basic steps to take if you decide to buy a home without using a Realtor: Set your budget. Get preapproved. Find the right home. Review the sellers disclosure. Make an offer. Get an appraisal and inspection. Negotiate. Close on your new home.
California: Real estate attorneys are not essential for closing but may be advised by your real estate agent.
How to Sell a House By Owner in Mississippi in 6 Steps Step 1: Price Your Home Competitively. Step 2: Make Your Home Market-Ready. Step 3: Increase Your Propertys Visibility. Step 4: Organize Home Showings. Step 5: Review, Compare, and Negotiate Offers. Step 6: Finalize the Sale Seamlessly.

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