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.

Hard money loan 75

Hard money loan Equity Finance Loans 75

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.

Pre-approval 92

Pre-approval Short sale Banks Finance 92

HomeLight

SEPTEMBER 30, 2020

The purpose of the foreclosure auction is to recoup money for missed mortgage payments or tax liens. The purpose of the foreclosure auction is to recoup money for missed mortgage payments or tax liens. To help collect this money, the home is listed at a foreclosure auction where it’s bid on and (ideally) won.

Due diligence 97

Due diligence Hard money loan Finance Banks 97

HomeLight

MARCH 10, 2023

Flipping takes a lot of money, know-how, manpower, and planning to be successful. Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. But a house-flipping venture is not for the faint of heart.

House Flipping 83

House Flipping Renovation Investor Finance 83