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Definitions for Deal-Seeking Buyers: Short Sales, Foreclosures, and REO Homes

HomeLight

You may have heard that short sales, foreclosures, or bank-owned properties offer great opportunities for a steal , but what do these different terms mean, and how does the homebuying transaction work for each? What’s the difference between buying a short sale vs. a foreclosure, and where can the best deals be had?

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Hit Them With Your Best Shot: How Much to Offer on a Short Sale

HomeLight

You know that old saying, “when one door closes, another one opens”? But what if it’s a different kind of sale … for example, how much should you offer on a short sale? So it’s a cycle of closing old chapters and starting new ones — and that doesn’t always happen in a clean-cut, seamless way.

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What’s behind the sharp decline in mortgage delinquencies?

Housing Wire

The delinquency rate should follow that downward path closely. We will certainly be tracking these data closely over the next months and quarters. This was quite a change from the documentation-heavy process that was developed for loss mitigation from the Great Financial Crisis (GFC). Forbearance trends and exits outlook.

Mortgages 477
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How to Buy a Foreclosure: Your Go-To Guide to Distressed Properties

HomeLight

Again, the timeline varies by state, but this typically begins three to six months after the first missed payment , according to the Department of Housing and Urban Development (HUD). Let’s take a look at the most common foreclosure sales and how they work. Short sale. The average home closing in the U.S.

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How to Make Money as a Real Estate Agent: 9 Strategies to Earn More

The Close

Chances are these people will buy or sell again, so keeping in close contact with them is key to making more money as a real estate pro. 9 Skills Agents Need to Work With Investors & Close 50-100 Deals a Year. Build a Relationship With Developers. The developer is only an expert in answering one of these questions.

Agents 105
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Can You Sell a Home in Foreclosure? Why Time Is of the Essence

HomeLight

However, as the Department of Housing and Urban Development (HUD) mentions in its guidelines to avoiding foreclosure : “Foreclosure doesn’t happen overnight.” You’ll also need to factor in any fees for staging and preparing the house for sale, your real estate agent commission , closing fees, seller concessions, and moving costs.

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The 19 Best Real Estate Prospecting Letter Templates for 2022

The Close

Emile L’Eplattenier, Managing Editor , The Close. Emile L’Eplattenier, Managing Editor , The Close. Emile L’Eplattenier, Managing Editor , The Close. Sean Moudry, Close Contributor & Real Estate Coach , 16 Strategies. Sean Moudry, Close Contributor & Real Estate Coach , 16 Strategies. copy to clipboard.