Remove Banks Remove Due diligence Remove Land Remove Real-estate owned
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What Is a HUD Home? Are the Savings Worth the Risks?

HomeLight

The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction). Buyers should arrange financing with a bank or mortgage lender ahead of time. This deal only applies to certain properties (foreclosed real estate-owned HUD homes) and all buyers must meet eligibility requirements.

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

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.