Housing Wire

MAY 20, 2022

Most real estate agents deal with primary homeowners and homebuyers, so they may market an investment property to the wrong audience, delaying the sale. Consider a Short Sale. If you’re in over your head in debt and can’t find your way out, your mortgage company may approve a short sale.

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HomeLight

SEPTEMBER 1, 2020

A “real estate owned,” or REO, home is one that’s owned by a bank. The owner either forfeited it to the bank, or the house went to foreclosure auction and the house didn’t sell. Whatever the case, now the house belongs to the bank. Buying a bank-owned home isn’t the same as buying a house from a private homeowner.

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HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

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HomeLight

AUGUST 31, 2021

A foreclosed home is a property that has been seized by the bank after the homeowner failed to make their mortgage payments. A home goes through several steps before the bank physically takes over the house and sells the property. Distressed sales accounted for just 1% of all home sales in April 2021. Short sale.

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HomeLight

AUGUST 31, 2020

Some potential homebuyers pass over foreclosures or buying a bank-owned home entirely because they are daunted by the special considerations that go into this kind of sale. The reality is, there are a variety of substantial pros and cons that any would-be buyer should weigh seriously before purchasing a bank-owned property.

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Realty Biz

JULY 19, 2022

Many of these will be new investors that don’t have experience with the pre-foreclosures, short sales, and foreclosures, that occurred during the Great Recession. Many of these will be new investors that don’t have experience with the pre-foreclosures, short sales, and foreclosures, that occurred during the Great Recession.

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Purchase and sale agreement Short sale Loans Inspection 102

HomeLight

AUGUST 16, 2021

What is an REO sale? These are properties that have been foreclosed , and the ownership has fully transferred to the bank or lender. If it sells, the lender recoups some of the outstanding loan amount through the sale. There are online tips and tools available to help you find bank-owned homes. Source: (Andre W.

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Rent, Buy & Sell

JANUARY 20, 2023

Foreclosures and short sales may be enticing due to low offer prices, but they carry some risks and potentially higher costs. Before You Buy: Be Honest About Your Finances The question isn’t really how low can prices go during a recession. Shop around for the best mortgage rates.

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Realty Biz

SEPTEMBER 23, 2023

Buyer agents play a crucial role in real estate transactions. They provide services such as guiding buyers through the home buying process, offering expertise in the local market, and assisting with negotiation and closing. Understanding the difference between buyer and seller's agents and how buyer's agents are compensated is essential.

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HomeLight

JUNE 16, 2023

But the reality of buying a house at auction typically means you’ll need lots of money in the bank (like, enough to purchase the thing outright), and that can be enough to bring your foreclosure auction dreams crashing back down to earth. And one of the biggest differences is that auction sales are almost always for cash.

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HomeLight

OCTOBER 30, 2020

When you still have months left until the bank starts initiating foreclosure, you have time to prep your home for sale , so that it shows well and sells for the best possible price. If you’re wondering, “Can I sell my home if it is in foreclosure?” That’s what homeowners typically do because they’re in denial.

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Point2Homes

JUNE 4, 2021

Many online listing platforms will differentiate between pre-foreclosures, REOs (bank-owned properties) and actual auctions. Auction sales usually have the lien amount listed, and you can use it as a starting point for planning your budget. Also, it’s very rare that you’ll be able to take out a mortgage to finance an auction property.

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RIS Media

SEPTEMBER 21, 2020

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. Contingencies : Conditions written into a home purchase contract that protect the buyer should issues arise with financing, the home inspection, etc.

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HomeLight

JULY 31, 2020

Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. It almost certainly will not move as quickly as anticipated.

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Marco Santarelli

OCTOBER 23, 2023

If you are looking for cheap homes for sale in California , you might be wondering if it is possible to find any properties under 50k. One of the easiest ways to find cheap homes for sale in California is to use online platforms that aggregate listings from various sources, such as Realtor , Redfin , Zillow , Point2 , or PropertyShark.

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HomeLight

SEPTEMBER 20, 2022

Short sales can provide an excellent opportunity for potential homebuyers to score a good deal. If you’re in the market to buy a short sale home, you’ll need to prepare for a lengthy closing process and steel yourself to jump through some hoops not generally associated with traditional sales. What is a short sale?

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HomeLight

DECEMBER 29, 2023

Fast facts about selling a house ‘as is’ in Minnesota Median sales price in Minnesota $334,900 Average days on market (DOM) for Minnesota 32 days Disclosures Minnesota law requires sellers to disclose material facts about the property through the Minnesota Seller’s Property Disclosure Statement. Yes Is a real estate attorney required?

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HomeLight

JUNE 8, 2021

Myles Daniel , a real estate investor in Greenville, SC, spoke with HomeLight about the types of challenges or situations that can require a fast sale. Indeed, as someone who needs to sell your house fast, you could be facing any one of these common scenarios where a lengthy sale process would cause enormous stress and financial strain.

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RIS Media

MARCH 25, 2021

When the housing bubble burst, roughly nine million families lost their homes to foreclosure or short sale between 2006 and 2014. The short answer is “not likely.” Loose mortgage lending practices ultimately brought down some of the nation’s largest banks and mortgage companies. Factor No. Factor No.

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HomeLight

SEPTEMBER 30, 2020

But what if you’re buying a short sale? Does that mean you might encounter even more reasons to cry while trying to get a short sale mortgage loan ? Securing a short sale mortgage loan isn’t that different from purchasing a standard home. What’s a short sale ? Well, it depends.

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HomeLight

NOVEMBER 9, 2021

You just heard about short sales, and they sound intriguing. But it would be a mistake to think you’re automatically getting a deal with a short sale. He points out that the bank isn’t likely to sell the property for less than market value. Short sales fall into the category of “distressed” sales.

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HomeLight

OCTOBER 5, 2020

As fate would have it, right when you’re ready to start seriously searching for a home to buy, your dream house is listed for sale as a short sale. If you don’t know about short sale requirements for buyers, you might feel like you’re out of luck. What’s a short sale?

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HomeLight

SEPTEMBER 30, 2020

While investors are known to attend and bid at foreclosure auctions, you can do it, too. The key is to know where to look and understand the dynamics of the process. But how do foreclosure auctions work? Source: (Deelin / Pexels). What is a foreclosure auction? What is a foreclosure auction? Where can you find foreclosure auctions?

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HomeLight

DECEMBER 31, 2020

Although she caught up, there was a breakdown in communication that looked like the bank owned her house once she was ready to sell. Depending on where you live and how involved the attorney is with your home sale, a real estate attorney also can draft and negotiate the contract for the sale, as well as prepare the deed, says Jeffrey L.

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Title Short sale Inspection Closing 98

HomeLight

SEPTEMBER 1, 2022

The so-called appraisal gap began rising in frequency around July 2020, and by June 2021, there was a gap between sales price and appraised value in one-fifth of all home sales requiring financing. The bad news is that you still have an 8% to 10% chance of encountering a low appraisal. What is a low appraisal?

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HomeLight

MARCH 30, 2022

His client received a cash offer of $60,000 over the asking price, but the sale likely would have fallen through because of a low appraisal if the buyer needed financing. Reduce the time it takes to close your sale. Keep it simple with HomeLight’s Simple Sale platform. Benefits of real estate cash buyers.

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HomeLight

MAY 19, 2022

HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition. HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition. Median sales price in Maryland. Looking to sell a house “as is” in Maryland? They want to sell as-is.”. Disclosures.

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HomeLight

SEPTEMBER 30, 2020

Sanchez adds that major credit setbacks such as a short sale or foreclosure means a buyer will most likely have to wait at least seven years before being able to qualify for a new loan. “We But in early 2020, not long after they’d made the decision to hold off on buying, a house popped up for sale in Sacramento.

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HomeLight

DECEMBER 2, 2021

One of them is a short sale. The process is complicated and confusing, often leaving a worrisome question in its wake: How long does a short sale stay on your credit? What is a short sale? Once you gain the lender’s approval, you can list your home for sale. Source: (Vidar Nordli-Mathisen / Unsplash).

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HomeLight

OCTOBER 5, 2020

Also remember that, although you may be hoping for a discount, the bank is trying to recoup as much of the appraised value as possible. If you’re buying a house with cash , it makes sense to try to get as good a deal as you can — and that’s where auctions come in. And if so, how much of a discount can you expect?

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Due diligence Earnest money deposit Banks Inspection 54

HomeLight

MARCH 30, 2021

You may have heard a little bit about short sales — enough to know that this type of real estate listing can present some opportunities to get a good deal. But while short sales offer potential opportunities , they come with plenty of potential pitfalls as well. Know if a short sale is the best option for you.

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Short sale Sales Pre-approval Closing costs 60

HomeLight

MAY 23, 2022

Either there are a couple of issues with the house that they want to disclose but not necessarily repair or they’re selling a house as part of an estate sale and don’t know a lot about it.”. HomeLight’s Simple Sale platform will provide a full cash offer for homes in almost any condition. Median sales price in Wisconsin.

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HomeLight

SEPTEMBER 30, 2021

Here are the quick points to know on how to sell a house with a mortgage: You’ll use the proceeds from the sale of your home to pay off your existing mortgage balance. Input your address, answer the short questionnaire, and we’ll provide you with an instant estimate. Can you sell a house you still owe money on? Check your home value.

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HomeLight

APRIL 15, 2022

We also include information about HomeLight’s Simple Sale platform, an online home-selling program that provides competitive all-cash offers for homes across the country. A couple in Atlanta is ready to sell their charming and recently renovated three bed, two bath brick two-story home. As two busy working parents, stress levels are high.

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HomeLight

JUNE 30, 2021

Between favorable mortgage interest rates and a low inventory of available homes for sale, buyers were submitting purchase offers of thousands of dollars over asking price , and sellers (and their agents!) Less properties, less sales. were fielding multiple offers. Source: (Matthew Henry / Burst). Recession sign #2: GDP is down.

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Kyle Handy

JANUARY 20, 2023

They’re someone investing in and improving their community. They’re putting old and damaged housing stock back onto the market. So, in looking for “distressed sellers,” what I’m looking for is people that I can help the most. So, let’s look deeper at my favorite strategies for finding houses to flip.

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HomeLight

APRIL 29, 2022

Some people have a lot more time and energy to engage and make the best of the sale, and some people don’t,” says George Graham , a top real estate agent in the Seattle, Washington, area. An as-is home sale often indicates that the home has some “big-ticket items” that won’t pass the required inspection or appraisal, he adds.

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