HomeLight

AUGUST 16, 2021

You’ll learn how to prospect for distressed properties, how to approach homeowners, how to work with banks, and much more that will position you as the local expert with solutions to help those in need. Christina’s course: Working with Foreclosures and Short Sales. HUD Homes for Sale. Links and Show Notes.

Marketing 75

Marketing Short sale Bankruptcy Banks 75

HomeLight

DECEMBER 30, 2021

Matt Laricy is a top agent in Chicago , completing 41% more sales than the average agent in his area. In some states, you could have three attorneys involved — the buyer’s attorney, the seller’s attorney, and the mortgage lender’s attorney — in a purchase and sale. At some point, you might ask yourself: Should a lawyer be involved?

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Purchase and sale agreement Title Short sale Closing 76

HomeLight

JANUARY 25, 2021

A traditional sale might be what you had in mind when you originally bought your home. The structure “had to be taken down to the studs,” Griffin says, not the ideal condition for a conventional sale. If you’re going to sell your house for cash, make sure you do your due diligence on the buyer. You need to relocate fast.

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Purchase and sale agreement Investor Inspection Due diligence 105

HomeLight

AUGUST 16, 2021

This means that the homeowner stopped making payments on their mortgage, and the bank seized the property to recoup the funds. Department of Housing and Urban Development (HUD) homes for sale portal. Tax, construction, or homeowner’s association liens may follow the home or even inhibit the sale entirely.

Title 109

Title Due diligence Finance Inspection 109

HomeLight

SEPTEMBER 30, 2021

A foreclosed property is a property that has gone through the legal process of foreclosure where the bank seeks to regain ownership of the property to make good on a debt,” explains top Seattle real estate agent Ken Crotts , who works with over 66% more single family homes than the average area agent. “A Pre-foreclosure sales.

Banks 104

Banks Inspection Equity Investor 104

HomeLight

OCTOBER 29, 2020

This indicates to the seller that you’ve been qualified to secure funding, and proves that you’re serious about buying since you’ve already gone to the trouble of talking with a bank. Sales contingency. If something jeopardizes your sale, then their deal with you is now also at risk. Short sale or bank approval contingencies.

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Purchase and sale agreement Pre-approval Earnest money deposit Inspection 79

HomeLight

MAY 24, 2022

Even though it’s all cash to the sellers at closing, with a cash offer, “you don’t have to go through the appraisal or the bank approval process — it’s cleaner.”. Everyone involved will need time to perform their due diligence. A cash sale: Start to finish. Why does it take this long? Average Price Point.

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Purchase and sale agreement Closing Title search Title 104

HomeLight

JULY 29, 2022

Otherwise, you can arrange for a wire or bank transfer of funds that gets to the closing agent early (most likely via the title company). There are certain properties I would immediately order a title search before I do anything else: A foreclosure , a short sale , a bankruptcy, an estate sale,” Houck says.

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104

HomeLight

APRIL 29, 2022

“Some people have a lot more time and energy to engage and make the best of the sale, and some people don’t,” says George Graham , a top real estate agent in the Seattle, Washington, area. An as-is home sale often indicates that the home has some “big-ticket items” that won’t pass the required inspection or appraisal, he adds.

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As-is Purchase and sale agreement Investor Inspection 70

HomeLight

JULY 31, 2021

turn four walls and a roof into money in the bank, without the need for inconvenient showings, nail-biting appraisals , or a 50-day closing. Reports from the National Association of Realtors show that nearly a quarter of existing home sales were made with all-cash in the spring of 2021 — but how do you go about finding your cash buyer?

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Earnest money deposit Inspection Proof of funds Inspection contingency 98

HomeLight

MAY 27, 2021

She finds local lenders also provide better customer service than big banks. Step 9: Do your due diligence. In complicated transactions, such as buying a short sale or purchasing a home from an estate where several people own a share, an attorney might be a good investment. Step 4: Get preapproved.

Loans 82

Loans Mortgages Title FHA loan 82

HomeLight

MARCH 10, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. When buying an REO ( real estate owned/lender-owned property ), the banks like to work with cash. Find a Buyer's Agent What is house flipping? Wise agrees.

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House Flipping Renovation Investor Finance 88

The Close

DECEMBER 29, 2022

This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. ” If a property is active contingent, a buyer has submitted an offer to purchase a property, but the sale won’t be finalized until certain conditions, or contingencies, are met. Comparable sales (comps).

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