HomeLight

SEPTEMBER 30, 2021

REO owned: If the home doesn’t sell at auction, it becomes real-estate owned, meaning the bank or lender owns it. Finally, a third way to buy a foreclosure is through a real-estate owned, or REO, listing. In a hot market, good deals are hard to come by. You can build equity fast.

Banks 97

Banks Inspection Equity Investor 97

The Close

DECEMBER 29, 2022

These real estate definitions will help you ensure you’re communicating with clients effectively. Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. It’s often presented as a percentage of the fair market value.

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Purchase and sale agreement Title Proof of funds Pre-approval 98

HomeLight

AUGUST 16, 2021

In the market for a “ real estate owned” property ? Experienced REO buyers swear by this method of wealth-building through real estate. “One But lenders would rather recoup their money than own a house. REOs for short, these kinds of sales expose buyers to a lot of potential risk.

Banks 103

Banks Pre-qualification Investor Short sale 103

HomeLight

MARCH 10, 2023

That is especially true in the New York market, where house flipping margins have gotten thinner as home prices and repair costs have escalated, and buyers have been shut out of the market by higher interest rates. Flipping takes a lot of money, know-how, manpower, and planning to be successful.

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House Flipping Renovation Investor Finance 83

HomeLight

JUNE 28, 2021

With properties often available below market value and down payment options potentially as low as 3.5% , purchasing a HUD home could be your golden ticket. HUD likes to price these houses to sell, and often you can snag a HUD home below fair market value. Looking for a way to snag a home at a steal of a deal? Cons of buying a HUD home.

Pre-approval 89

Pre-approval Pre-qualification FHA loan Inspection 89

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?

Banks 75

Banks Inspection contingency Inspection FHA loan 75