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What Is a HUD Home? Are the Savings Worth the Risks?

HomeLight

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. Get pre-qualified with a mortgage lender. Qualifying for a HUD home. No problem!

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Options to Unlock Your Home Equity When Finances Are Tight

HomeLight

Also, “If you want to gain access to your equity by selling the home,” Lawson adds, “there are additional expenses related to the transaction of a sale — Realtor® commissions, closing costs, etc., — that need to be deducted from your equity estimate.”. What qualifications do I have to meet to access my home’s equity?

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Selling a Home at Auction: Pros, Cons, and How to Get Started

HomeLight

The National Association of Realtors agrees that auctions can accelerate a sale, in addition to offering these key benefits for sellers: Higher visibility among pre-qualified, prepared buyers who are ready to buy. Reduction of long-term carrying costs, such as property taxes and ongoing maintenance.

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20 Home Search Apps that Aim to Help You Close the Deal

HomeLight

It’s time for you to buy a house, and between the financial questions (how much will you need for closing costs? Beyond standard MLS listings, home search apps can offer a deep dive into data to help you research, bid, buy, finance, insure, and even renovate your new home. what’s considered “overpaying” on a house?)

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Buying REO Homes? Here’s What to Do — And What Not to Do — According to Experts

HomeLight

“Go to your county’s office and ask for the pre-foreclosure list ,” he says. What will it cost to renovate it so you command either market rent or a sale at a price that represents a margin you’re comfortable with? Reach out to people on the list, and give them an offer!”. Will buying an REO home be a good investment?

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What’s the Deal with Making a Cash Offer on a House?

HomeLight

submit your purchase offer with a pre-qualification or preapproval letter from a lender, these funds aren’t a sure thing until the loan is fully approved. Unless you’re buying for investment purposes and planning to completely renovate the house in order to rent or resell it, you’ll probably want to know what you’re getting into.

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Sell Your House for Cash: For Some, the Convenience Can’t Be Beat

HomeLight

If you’d like to connect with an agent today who’s connected to local cash buyers, HomeLight makes it easy and fast to find a top real estate agent near you with your preferred qualifications. Reasons to sell your house for cash. Cash buyers often look for houses that need work, and typical home buyers don’t want a project,” notes Steinemann.