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How online auctions deliver on the promise of pre-foreclosure sales

Housing Wire

The great promise of short sales and other distressed pre-foreclosure sales as a foreclosure alternative is most fully realized in a competitive and transparent online auction marketplace, according to recent data from the Auction.com Market Validation Program (MVP) for pre-foreclosure sales. Pre-Foreclosure Potential.

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What Does ‘Under Contract’ Mean on a Home Listing?

HomeLight

It means the buyer and seller have agreed to the terms of the contract, such as the price, the closing date, the personal property, the earnest money, tax preparation, and contingencies.” The buyer may even be pre-approved by their lender, but there’s still work to be done before the financing officially comes through.

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How to Find Short Sale Homes: A Guide for Buyers

HomeLight

If you’re in the market to buy a short sale home, you’ll need to prepare for a lengthy closing process and steel yourself to jump through some hoops not generally associated with traditional sales. More recently, however, the hot market of 2021-2022 saw homeowners with mortgages increase the equity in their homes by 27.8% Transactions.

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How To Buy and Sell a Home at the Same Time—in Today’s Haywire, High-Interest Rate Housing Market

Realtor.com

The good news for home sellers is that over the past year, demand for homes has driven prices through the roof, pushing home equity to record levels. “Two-thirds of homeowners right now are sitting on a sub-4% mortgage, and about a quarter are sitting on a sub-3% mortgage,” says Lisa Sturtevant , chief economist of the Bright MLS.

Marketing 119
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20 Home Buying Tips for First- or Second-Time Buyers

HomeLight

If you are approved for up to $450,000, I recommend shopping for homes between $350,000 and $425,000,” says Wordelman. “In If your area is on the cusp of a second MLS system, make sure your agent prepares searches using both regions,” she says. “As A buyer could also ask for a closing cost credit, which can offset closing costs.”

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

After all, great communication leads to closed deals. Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. This is when the seller signs over all rights and obligations related to a property to the buyer before the actual closing.

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

HomeLight

You’re reading through a new MLS listing, and you believe you found your ideal home. The exact steps vary from state to state, but let’s take a general look : Pre-foreclosure: As the name implies, a pre-foreclosure isn’t in foreclosure yet, but it’s on the way there. Pre-foreclosure. Auction sale.