Realty Biz

JUNE 20, 2023

Types of Foreclosures There are three main types of foreclosures: pre-foreclosures, auctions, and real estate-owned (REO) properties. Auctions: Properties not sold in the pre-foreclosure stage go to auction. REOs: If a property does not sell at auction, it becomes a real estate-owned property, owned by the bank or lender.

Due diligence 74

Due diligence Hard money loan Inspection Title 74

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.

Pre-approval 71

Pre-approval Banks Title search Inspection 71

The Close

DECEMBER 29, 2022

Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. An established chain of title helps protect the buyer from future challenges to ownership. A title search helps create that chain and is usually conducted by a lawyer or title company.

Purchase and sale agreement 97

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