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What’s a Short Sale in Real Estate? This FAQ Sheet Breaks Down the Basics

HomeLight

In the midst of these financial straits, there may be a slightly better option: a short sale. But what is a short sale, and is it the right route for you? Weve broken out the most common questions about short sales to help you make a more informed decision about your next steps. What is a short sale?

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How Long Does It Take to Buy a House?

Redfin

However, in most cases, once a seller has accepted your offer, the closing process typically takes 30 to 60 days – unless you made an all-cash offer. In this Redfin article, find out how long it takes to buy a house based on the three most common scenarios – a cash offer, a mortgage, and a short sale.

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Selling a House With a Mortgage: Setting Yourself Up for Success

Redfin

From your expected sale price, subtract: The full mortgage payoff amount Real estate agent commissions Closing costs Any unpaid taxes, liens, or HOA fees Repair credits or buyer concessions What’s left is your net proceeds—the money you’ll take home, if all goes well. Underpricing it could mean owing money at closing.

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How to Buy a Foreclosed Home: The Ultimate Step-by-Step Guide

Redfin

Whether youre looking at homes for sale in San Antonio, TX , or in Wilmington DE , there are options for you. There are several types of foreclosure sales – auctions, bank-owned properties, government-owned properties, preforeclosures, and short sales. Some are more common than others, so lets take a look at them.

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First-Time Home Buyer Advice: Third Quarter 2025

The Mortgage Report

I think in some cities, like Phoenix, we are starting to see a little bit of foreclosure or short sale happening. Ralph DiBugnara , president at Home Qualified : What’s most unique for first-time buyers is the competitive nature of today’s markets combined with higher rates and costs. But that is really market dependent.

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Are FHA Loans Assumable? What Buyers and Sellers Should Know

Redfin

Lower closing costs With an FHA loan assumption, the buyer might also benefit from reduced closing costs. In addition to the downpayment, these may include a loan assumption fee, as well as other closing costs like title fees, credit report costs, or attorney fees.

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How Much Equity Do I Have in My Home? Here’s How to Calculate Home Equity

Redfin

Ideally, you would have enough equity to cover commissions, any liens, and closing costs. If you dont have enough equity to pay these costs, youll have to bring your own funds to pay them. Foreclosure can damage your credit score, so you may want to consider a short sale if this is the case.