HomeLight

AUGUST 31, 2021

They’ll put the house up for auction either in a sheriff’s or public trustee sale (the name depends on what foreclosure process your state follows). Bank-Owned or REO: If a home doesn’t sell at auction, it becomes a real-estate owned home , meaning the bank or lender officially owns it. Short sale.

Pre-approval 109

Pre-approval Short sale Banks Finance 109

HomeLight

JUNE 28, 2021

Buying a HUD home isn’t like traditional home sales. John Collinge , a multi-year top-producer awardee and 11-year top-selling real estate agent out of Anchorage, Alaska, suggests all HUD homebuyers have a cash reserve. Once a home is listed for sale it’s given a specific window during which bid submissions are accepted.

Pre-approval 104

Pre-approval Pre-qualification FHA loan Inspection 104

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 104

Banks Pre-qualification Investor Short sale 104

HomeLight

MARCH 30, 2022

As a starting point, get a near-instant real estate house price estimate from HomeLight for free. We’ll consider the records of recently sold homes in the area, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Get Estimate. Work relocation. In 2021, 32.5%

Pre-approval 113

Pre-approval Agents Closing MLS 113

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. Money was cheap but it’s not cheap anymore.” Wise agrees.

House Flipping 104

House Flipping Renovation Investor Finance 104

The Close

DECEMBER 29, 2022

And now we present the 131 real estate terms you need to know—and be able to define for clients—in 2023: 1031 Exchange. This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. Closing costs. ” A. Help Clients Understand Their Options as Rates Increase.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98