HomeLight

AUGUST 31, 2021

We talked with veteran real estate agents with a combined 30-plus years working with foreclosures to bring you a comprehensive guide to the often confusing world of distressed properties. A foreclosed home is a property that has been seized by the bank after the homeowner failed to make their mortgage payments. Auction sale.

Pre-approval 98

Pre-approval Short sale Banks Finance 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 So how can you develop that skill that makes the pros so confident — and drives major return on investment? There is never a perfect investment situation.

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Banks Pre-qualification Investor Short sale 104

HomeLight

AUGUST 31, 2020

You may have heard that short sales, foreclosures, or bank-owned properties offer great opportunities for a steal , but what do these different terms mean, and how does the homebuying transaction work for each? What’s the difference between buying a short sale vs. a foreclosure, and where can the best deals be had?

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Short sale Sales Banks Inspection 89

HomeLight

JUNE 28, 2021

From bidding to buying to financing to special incentives — we’re talking all things HUD homes to help you decide if this property type fits your financials and lifestyle. Department of Housing and Urban Development , a government agency first created by President Lyndon B. Financing a HUD home. Source: (Jeremy Yap / Unsplash).

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Pre-approval Pre-qualification FHA loan Inspection 94

HomeLight

MAY 17, 2022

Real-estate owned (REO) homes. A real estate-owned (REO) home has been put up for sale at a foreclosure auction — but it didn’t sell. Now, the bank or another lender owns it and has listed it on the open market. Step 3: Figure out your financing. Show proof of financing.

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Inspection Banks Short sale Title 93

HomeLight

FEBRUARY 4, 2022

If you’re in the market for real estate, either as an investment or a residence, REO (which stands for “real estate owned” also known as “bank owned”), homes can offer you a deal, but without the hassle of dealing with a foreclosure auction. Source: (Roger Starnes Sr / Unsplash). What is an REO home?

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Agents Banks MLS Title 80

Real Trends

JANUARY 25, 2023

Another possible niche is buyers who need creative financing, such as rent-to-own financing or owner financing. This is a way to help those who have credit problems afford a home of their own. Once the bank takes ownership, its goal is to recoup as much of its loss as possible.

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Homeowner’s association Finance Agents Short sale 75