HomeLight

JUNE 28, 2021

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. Buyers should arrange financing with a bank or mortgage lender ahead of time. No problem!

Pre-approval 94

Pre-approval Pre-qualification FHA loan Inspection 94

HomeLight

APRIL 30, 2022

Auction.com calls itself the nation’s largest online auction marketplace for foreclosure and bank-owned properties. In the distressed market, which makes up anywhere from 5% to 15% of US housing sales each year, more properties will gradually make it to foreclosure in 2022 due to the nationwide foreclosure and eviction moratoriums expiration.

Closing 87

Closing MLS Pre-qualification Due diligence 87

HomeLight

APRIL 26, 2023

The first due diligence you want to do is make sure they have proof of funds ,” Graham recommends. A bank statement will help weed out people who are just looking around and don’t have the qualifications to purchase your house from legitimate buyers who can obtain financing. Require everything in writing.

MLS 68

MLS Agents Sales Proof of funds 68

The Close

DECEMBER 29, 2022

This is when a homeowner turns a deed over to the mortgaging bank to avoid going into foreclosure. Due diligence period. What if your clients are asking about their due diligence period? One example is someone using a private road to access their own land. Deed in lieu of foreclosure. Eminent domain.

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97