HomeLight

AUGUST 31, 2021

The bank will then list the property on the market and try to sell the home in a similar fashion to your average property. Let’s take a look at the most common foreclosure sales and how they work. Short sale. A short sale isn’t necessarily a foreclosure sale, but it’s common to see a short sale done to avoid foreclosure.

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Pre-approval Short sale Banks Finance 97

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. If the house is worth less than the outstanding loan, the seller has options, but a straightforward pre-foreclosure sale is seldom one of the options.

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Purchase and sale agreement Short sale Loans Inspection 102

HomeLight

APRIL 29, 2021

From cocktail parties to backyard barbecues, it seems like everyone around you is talking about how hot the real estate market is. So does that mean you’re in a buyer’s market or a seller’s market? Like stock prices, the real estate market fluctuates. It can affect: How you prepare your home for sale.

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Marco Santarelli

JULY 23, 2022

In the summer of 2022, there is a lot of speculation in the media that the slowing housing market is an indication that the market is headed for a housing crash. But is the housing market truly in a bubble? During a housing market crash, the value of a home decreases.

Mortgages 52

Mortgages Marketing Lending Equity 52

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. Don’t let any stigma keep you from making wise financial decisions about the sale of your home. You’re not alone in facing foreclosure.

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Short sale Banks Equity Mortgages 104

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.

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Short sale Sales Pre-approval Equity 83

HomeLight

JUNE 8, 2021

Even in today’s hot seller’s market where homes attract offers in as few as 16 days , it takes around 2-plus months to sell a house from list to close. And that doesn’t account for the weeks needed to clean, paint, and tidy up the property for its market debut. In a hot market, homes naturally sell fast.

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HomeLight

AUGUST 16, 2021

In the market for a “ real estate owned” property ? REOs for short, these kinds of sales expose buyers to a lot of potential risk. But they also provide a lot of opportunity for big return on investment, too — much bigger, and faster, than you might expect with many traditional sales.

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Banks Pre-qualification Investor Short sale 104

HomeLight

JUNE 30, 2021

Although several experts predicted that the next housing recession would take place in 2020 , with the benefit of hindsight, we know that 2020 was a hot seller’s market across the United States. Today, with the help of housing market experts, including top New Bedford, Massachusetts-based real estate agent Byron Ford, Jr.

Equity 64

Equity Loans Lending Industrial 64

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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Short sale Sales Pre-approval Pre-qualification 76

HomeLight

AUGUST 31, 2020

Remember to cross check your personal desires with what’s realistic for your market. Secure financing and project return on investment. You could refinance for a $400,000 mortgage and take $100,000 as a cash-out to finance your project. Financing is where the ADU benefits start to kick in.

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Debt-to-income ratio Construction Loans Equity 97

HomeLight

SEPTEMBER 30, 2021

If the amount received from the sale falls short of your outstanding mortgage balance and selling costs, you will have to cover the difference with funds other than those from the sale. Our Home Value Estimator pairs housing market data from multiple trusted sources with details about your house that you personally share.

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Mortgages Debt-to-income ratio Equity Closing costs 100

HomeLight

JULY 31, 2021

The Pittsburgh real estate market draws investors with its budget-friendly home prices, profitable gross flipping ROI, and 90-plus neighborhoods to find a great investment. Most recently, a nationwide home-buying surge has pushed values even higher — Howard Hanna shows a median sale price in Pittsburgh of $235,238, in 2021.

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Investor Inspection Sales Closing 109

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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Short sale Sales Loans Banks 81

The Close

AUGUST 18, 2022

Dear [First name], Timing the real estate market to sell your home quickly and for the best price can sometimes be more art than science. The market doesn’t care when we want to sell or for how much, so many homes like yours end up unsold. This is why the system I use to sell homes doesn’t rely on timing the market. your name].

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Purchase and sale agreement Title Closing Short sale 98

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 59

HomeLight

SEPTEMBER 30, 2020

With a large down payment, the home already has equity, which means a lender is more likely to fully recoup their loan if something unforeseen happens and the buyer defaults.”. 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. Source: (Eric Gilkes / Unsplash).

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Closing costs Loans Short sale Finance 83

HomeLight

SEPTEMBER 1, 2020

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. You can buy a short sale, or you can buy a bank-owned property — but the foreclosure is just what’s happening in the process.”.

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Banks Inspection contingency Inspection FHA loan 77

HomeLight

OCTOBER 5, 2020

One important factor in how much a house will go for at a foreclosure auction is its appraised value — the professional estimate of its worth in the current market. Knowing the ins and outs of the market you’re hoping to buy in will help you estimate a potential auction price. A home equity loan or line of credit. Buyer beware!

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Due diligence Earnest money deposit Banks Inspection 54

The Residential Specialist

JUNE 30, 2021

For example, if spouse A’s new boyfriend moves into the house while it’s on the market, it may be of significant interest to spouse B. But it’s not material to the sale and probably should not be disclosed. Thompson compares the toughness of divorce listings to short sales. And it goes back to financing.

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Agents Bankruptcy Sales Short sale 98

HomeLight

OCTOBER 30, 2023

A sudden job loss or market dip can flip your entire world upside-down, threatening your ability to stay on top of your mortgage. Request an instant home value estimate to for a ballpark estimation of how much equity you have before selling a house with a mortgage. Arrange a short sale with your lender.

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Short sale Equity Loans Mortgages 113

HomeLight

JANUARY 4, 2022

While that still happens in scenarios where a seller can’t afford repairs or is facing serious issues with a property, cash sales have expanded beyond the distressed homes market, as sellers benefit from new technologies, instant sale platforms , and a competitive housing environment that has increased the percentage of cash offers.

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Investor Finance Inspection Sales 98

HomeLight

DECEMBER 1, 2021

Maybe you got caught up in a bidding war, bought at a market peak, and buyer interest (along with home values) has since cooled. Maybe the real estate market took a dive and you went overboard on past home renovations. Here’s when you may want to reconsider — or at least carefully weigh the consequences of — a home sale.

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Purchase and sale agreement Short sale Loans Mortgages 106

HomeLight

NOVEMBER 30, 2022

Home improvement shows have popularized the concept of “flipping” houses, bringing this segment of the real estate industry into the living rooms of everyday Americans, even inspiring some to take on the challenge of buying a home needing TLC, updating the home with old-fashioned sweat equity, and selling for a nice profit. Closing costs.

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House Flipping Inspection Investor Renovation 100

HomeLight

JULY 6, 2023

When your home first hits the market, your listing agent will note that it’s “Active,” as in ready and available for showings — but there’s a lot of ground to cover before your agent lists the status as “Closed,” when you have a done deal and you’re ready to hand over the keys. Selling your house soon? Closed”- Consider these listings sold.

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MLS Backup offer Inspection contingency Purchase and sale agreement 92

HomeLight

JULY 25, 2022

You can sell a home whenever you want, but expect financial consequences if you have little equity in it. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. How Much Is Your Home Worth Now? Get Estimate.

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Closing costs Equity Short sale Sales 87

HomeLight

FEBRUARY 9, 2023

the California housing market is seeing a decline in prices, and that decline will likely continue in 2023. According to the 2023 Housing Market Forecast put out by the California Association of Realtors, California’s median home price is predicted to go down 8.8 You just have to adjust to the current market that there is,” he says.

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House Flipping Hard money loan Finance Investor 84

HomeLight

JANUARY 19, 2023

To learn more about flipping houses in Georgia, we’re talking to Savannah-based real estate agent Jay Mills, a listings specialist with the Hupman Group , to get his perspective on what’s happening in his market. Let’s get into it! A Top Agent Can Be Your Georgia Real Estate Investment MVP Interested in flipping a house in Georgia?

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House Flipping Inspection Renovation Finance 96

HomeLight

JULY 25, 2022

Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Primary reasons for this include lack of equity accumulated in the home and insufficient appreciation – an increase in property value. Get Estimate.

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Closing costs Equity Short sale Agents 91

HomeLight

MARCH 21, 2022

While selling to a We Buy Houses company offers a number of conveniences, house-buying businesses typically pay less than market value for the homes they purchase, and sometimes significantly so. They are another legitimate option for selling your home in the markets where they make purchases. House flippers.

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Closing costs Home sale contingency Investor Closing 94

Lighter Side of Real Estate

DECEMBER 7, 2022

A seasoned real estate investor can typically find a deal, regardless of the current real estate market, but the extremely low mortgage rates caused a lot of buyer competition for the limited number of houses for sale, which made it virtually impossible for investors to buy a property at a profitable price.

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Pre-approval Investor Short sale Equity 82

HomeLight

OCTOBER 1, 2020

Here’s how it works: The appraiser will find at least three nearby comparable homes ( “comps” ) that are about the same size and age as yours, which were sold recently (typically within the past three to six months), and the appraiser will then use regression models and their market knowledge to come up with the value of your coveted property.

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Purchase and sale agreement Short sale Rent back Sales 86

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 87

HomeLight

JUNE 24, 2022

First and foremost, you need to know how the divorce home is valued , and how your equity in the home will be split. Your answer could impact how the equity split from your home is calculated. The market conditions aren’t ideal right now to sell. You bought the home recently and haven’t had much time to build up equity.

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Purchase and sale agreement Equity Sales Agents 104

HomeLight

FEBRUARY 24, 2023

With steady population growth in Florida and a housing market that has calmed to a more reasonable level, opportunities are plenty. A cooling, less competitive Florida housing market means investors can find more opportunities to make a deal on the types of properties they need for a flip. Find a Buyer's Agent What is house flipping?

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House Flipping Renovation Investor Finance 92

HomeLight

SEPTEMBER 30, 2021

The asset manager — in protecting their client’s interest — has a specific process they’re going to follow to ensure that they get fair-market value for the property when they do sell it,” Crotts shares. In a hot market, good deals are hard to come by. You can build equity fast. Financing might not be an option.

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Banks Inspection Equity Investor 103

HomeLight

AUGUST 24, 2022

The destination’s great weather and tax-friendliness bring a steady stream of buyers to the market, and cash buyers help make sellers’ homes fly. Imagine you list your home for sale and attract a buyer right away who is also willing to offer a top price. Inside the Florida cash home buyers market. “In Skip the appraisal.

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Purchase and sale agreement Title search Proof of funds Title 104