Realty Biz

JANUARY 1, 2021

A property goes into pre-foreclosure when a mortgage company notifies the borrower that they are in default on their loan. These homes are usually listed as a short sale with the words – pending bank approval. The bank has the final decision on an acceptable sale offer. In some cases a bank could take months to accept an offer.

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Short sale Pre-approval Banks Loans 116

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? That said, such a home can likely be purchased for fair-market value.

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Short sale Sales Banks Inspection 89

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.

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Pre-approval Short sale Banks Finance 98

Realty Biz

JULY 19, 2022

Pre-foreclosures are commonly confused with the foreclosure process and REOs (real estate owned by a lender). If the house doesn’t sell on the court steps, the lender (bank) takes possession. The bank lists the property with a real estate agent. Pre-foreclosures are Confusing to Many People.

Purchase and sale agreement 101

Purchase and sale agreement Short sale Loans Inspection 101

Point2Homes

JUNE 23, 2021

Often, dealing with the bank directly can allow you to pace your home buying decision and even provide a better deal. Real estate-owned (REO) properties, also known as bank-owned, are properties that have not sold at a foreclosure auction , and as a result, they are owned by the foreclosing bank.

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Pre-approval Banks Title search Inspection 71

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 These are properties that have been foreclosed , and the ownership has fully transferred to the bank or lender. There is never a perfect investment situation.

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Banks Pre-qualification Investor Short sale 104

HomeLight

SEPTEMBER 30, 2020

An online option like a real estate owned (REO) property, you’re not spending any money into it,” says Durham. This can sometimes push the home over its actual market value. Even if the highest bid is dramatically below market value, the highest bidder still wins the property. Source: (Antenna / Unsplash).

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Due diligence Hard money loan Finance Banks 98

HomeLight

JUNE 28, 2021

With properties often available below market value and down payment options potentially as low as 3.5% , purchasing a HUD home could be your golden ticket. FHA loans are geared toward individuals in need of lower down payments, or those who may not qualify for conventional loans due to lower credit scores. What is a HUD home?

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Pre-approval Pre-qualification FHA loan Inspection 94

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).

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Agents Banks MLS Title 80

HomeLight

MAY 17, 2022

Generally, lenders will take much less than top dollar for a foreclosure, which is good news for anyone looking to score a deal on real estate. However, unless homeowners can come current on their current mortgage or negotiate a loan modification, they will lose their home. Real-estate owned (REO) homes.

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Inspection Banks Short sale Title 93

Real Trends

JANUARY 25, 2023

After a record-setting year in 2021, when homes sold within hours of being listed, the market cooled drastically in 2022 as mortgage rates rose. It can be difficult to predict what’s next in real estate, but one of the best ways real estate agents can protect themselves from dramatic fluctuations in the market is to find a niche.

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Homeowner’s association Finance Agents Short sale 75

Easy Agent Pro

DECEMBER 29, 2020

In February, pre-CARES Act, 10,438 FHA loans were in foreclosure. Position yourself to be the one person in your market they can turn to – Here’s how to get foreclosure listings. Some markets will naturally only experience a trickle of foreclosures while others will be harder hit. Location, location, location.

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FHA loan Agents Loans Sales 83

Rent, Buy & Sell

JANUARY 20, 2023

Foreclosure is the legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of the mortgaged property and selling it. KEY TAKEAWAYS Foreclosure is a legal process that allows lenders to recover the amount owed on a defaulted loan by taking ownership of and selling the mortgaged property.

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Pre-approval Banks Loans Mortgages 59

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 88

Housing Wire

MARCH 3, 2021

Student loan debt is in his crosshairs, too. In his confirmation hearing Tuesday before the Senate Banking Committee , Chopra, President Joe Biden’s choice for director of the Consumer Financial Protection Bureau , emphasized that the CFPB has to be ready for housing market fallout due to the pandemic. As one of Sen.

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Marketing Loans Banks Real-estate owned 523

The Close

DECEMBER 29, 2022

These real estate definitions will help you ensure you’re communicating with clients effectively. Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. 4 Loan Questions Worth Asking. Acceleration clause. Active contingent.

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

The Close

MARCH 15, 2022

I’ve been in real estate for 27 years and I’ve never seen anything like this market. These days, instead of getting asked about how to win bidding wars, my clients and friends constantly ask me if we’re in a real estate bubble that’s ready to pop. Free Template: Housing Market Infographic.

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Agents Investor Banks Land 96

Housing Wire

JULY 30, 2021

Most of the nation’s 44 million rental households are owned by private companies with sometimes complex financing from commercial banks and insurance companies. Thus the federal government is limited in the tools it has to control the nation’s rental market, compared with the single-family housing market.

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Finance Commercial Real-estate owned Banks 457