HomeLight

AUGUST 31, 2020

Some potential homebuyers pass over foreclosures or buying a bank-owned home entirely because they are daunted by the special considerations that go into this kind of sale. The reality is, there are a variety of substantial pros and cons that any would-be buyer should weigh seriously before purchasing a bank-owned property.

Banks

The Close

FEBRUARY 19, 2025

Whether youre a new or experienced real estate investor, you may have asked, What is a real estate short sale? The simple answer is that a short sale is when a homeowner owes more for their home than its current market value and puts it up for sale. Lets begin!

Short sale

HomeLight

JUNE 30, 2024

These websites compile data from banks, government agencies, and real estate services to provide comprehensive listings of homes that are being sold due to the owner’s inability to meet mortgage obligations. The site is popular with real estate professionals and investors.

Short sale

HomeLight

MAY 17, 2022

A short sale is a type of preforeclosure; when a homeowner stops making payments on their mortgage and owes more on the home than the house is worth in the current market, then they will need to sell the house for less than they owe, and the lender will be “short” on the amount of money they accept in the sale (hence the name).

Inspection

Realty Biz

JULY 19, 2022

Many of these will be new investors that don’t have experience with the pre-foreclosures, short sales, and foreclosures, that occurred during the Great Recession. Pre-foreclosures are commonly confused with the foreclosure process and REOs (real estate owned by a lender). Buying Pre-foreclosures as Short Sales.

Purchase and sale agreement

HomeLight

AUGUST 16, 2021

In the market for a “ real estate owned” property ? REOs for short, these kinds of sales expose buyers to a lot of potential risk. But they also provide a lot of opportunity for big return on investment, too — much bigger, and faster, than you might expect with many traditional sales. What is an REO sale?

Banks

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?

Agents

HomeLight

SEPTEMBER 30, 2021

You see foreclosures listed on your favorite real estate sites, but what does that term really mean ? “A If somebody hasn’t made their payments for a period of time, the law allows the bank to repossess the property to make good on the debt,” states Crotts. But let’s back up a minute. Essentially, foreclosure works like this.

Banks

The Close

MARCH 15, 2022

One year later, in September 2008 when Lehman Brothers—the nation’s fourth-largest investment bank—filed for Chapter 11 bankruptcy, it signaled the start of the largest real estate crash of our lifetime. Short sales and foreclosures quickly became the norm. Real estate bubbles were commonplace in the U.S.

Agents

Easy Agent Pro

DECEMBER 29, 2020

It seemed as if every real estate agent on the planet, overnight, became a “foreclosure specialist” or a “short sale expert.”. The lender also has to publish the notice in the newspaper for three weeks, along with the date of the sale and where it will be held. Again, the process is location-dependent.

Agents

HomeLight

SEPTEMBER 30, 2020

An online option like a real estate owned (REO) property, you’re not spending any money into it,” says Durham. You can pay for the house with a cashier’s check, which is issued by a bank. This loan comes from a private investor or company that offers funds specifically for real estate.

Due diligence

Real Trends

JANUARY 25, 2023

This is a way to help those who have credit problems afford a home of their own. Foreclosures Foreclosures and real estate owned properties are owned by the lender after a sale has failed or a borrower has defaulted on the mortgage.

Homeowner’s association

Marco Santarelli

MARCH 15, 2021

Due to the pandemic, there are moratoriums on single-family foreclosures and real estate-owned (REO) evictions until March 31, 2021, to keep delinquent homeowners in their homes. Bank Owned. We’ve mentioned the possibility of getting a deal in the Philadelphia real estate market. Foreclosure Type.

Marketing

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?

House Flipping

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. Short sale.

Pre-approval

The Close

DECEMBER 29, 2022

This is when a homeowner turns a deed over to the mortgaging bank to avoid going into foreclosure. 10 Sneaky Real Estate Scams + How to Protect Your Clients (& Yourself). This is the amount of a property that a person (not the bank) actually owns. Mortgage insurance protects banks against payment default.

Purchase and sale agreement

Housing Wire

FEBRUARY 5, 2025

Data courtesy of Auction.com Higher levels of unemployment could cause more homeowners to become delinquent on their mortgages and lead to foreclosure, while slower price appreciation could mean they have less home equity to rely upon to pay debt or avoid a short sale.

Sales