Housing Wire

MAY 20, 2022

Consider a Short Sale. If you’re in over your head in debt and can’t find your way out, your mortgage company may approve a short sale. You can’t make a short sale without getting bank approval first. Once you get approval, short sale offers usually come in rather quickly.

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HomeLight

AUGUST 31, 2021

Let’s take a look at the most common foreclosure sales and how they work. Short sale. A short sale isn’t necessarily a foreclosure sale, but it’s common to see a short sale done to avoid foreclosure. A seller will usually have to prove financial hardship for the lender to agree to the sale.

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Realty Biz

SEPTEMBER 23, 2023

They provide services such as guiding buyers through the home buying process, offering expertise in the local market, and assisting with negotiation and closing. Negotiation and Closing Support Buyer agents are skilled negotiators who advocate on your behalf. What is your strategy for negotiation and closing?

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Purchase and sale agreement Pre-approval Agents Pre-qualification 73

Rent, Buy & Sell

JANUARY 20, 2023

Foreclosures and short sales may be enticing due to low offer prices, but they carry some risks and potentially higher costs. Before You Buy: Be Honest About Your Finances The question isn’t really how low can prices go during a recession. Shop around for the best mortgage rates.

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Point2Homes

DECEMBER 8, 2020

However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. Short Sale. Short sales occur when the seller will accept a lower amount than is remaining on their home loan.

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Realty Biz

JULY 19, 2022

Many of these will be new investors that don’t have experience with the pre-foreclosures, short sales, and foreclosures, that occurred during the Great Recession. If the house is worth less than the outstanding loan, the seller has options, but a straightforward pre-foreclosure sale is seldom one of the options.

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The Close

APRIL 30, 2024

Strategy 1: Implement a 10-day Price Drop If the seller is close enough to the ideal price point and wants to test the waters at their asking price, agree that if the price gets little to no activity or offers, it will automatically drop to your suggested listing price after 10 days. copy to clipboard Short sale approach: Ms.

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HomeLight

JULY 31, 2022

This minimum equity ensures that you’ll have the funds for necessary home sale expenses (such as staging , repairs , and closing costs ), plus some leftover profit to put towards your next down payment or security deposit. Another benefit of VA loan assumption is lower closing fees. Here are a few. Financial counseling options.

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CT Homes

OCTOBER 13, 2023

It comes with a bunch of complexities, like dealing with time pressures, managing finances, and handling the potential skepticism from buyers. We can close quickly! An auction might quicken the sale, but there’s a hefty risk of your home being sold for much less than it’s worth. Contact CT Homes today to learn more!

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HomeLight

SEPTEMBER 1, 2020

Timelines can stretch longer than a typical close cycle, and financing might not be the same, either. One of the first things an experienced REO specialist should ask is how you plan on financing the purchase. A home that goes to auction is often a cash-only sale, which may be outside your reach.

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RIS Media

SEPTEMBER 21, 2020

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. Closing : A meeting during which ownership of a home is transferred from seller to buyer, usually attended by the buyer, the seller, both real estate agents and the lender.

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HomeLight

JUNE 8, 2021

Even in today’s hot seller’s market where homes attract offers in as few as 16 days , it takes around 2-plus months to sell a house from list to close. Alternatively, you could request a full cash offer through a platform like Simple Sale , slashing your closing timeline to 10 days or the move-out date of your choosing.

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HomeLight

SEPTEMBER 20, 2022

Short sales can provide an excellent opportunity for potential homebuyers to score a good deal. 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.

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HomeLight

JUNE 16, 2023

With these caveats in mind, here are ways to finance a cash purchase at auction. Get a hard money loan Hard money lenders are financial institutions that lend money to people with less than stellar credit or complicated finances in order to buy assets such as real estate. This isn’t likely to be a good main strategy, though.

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HomeLight

SEPTEMBER 30, 2020

But what if you’re buying a short sale? Does that mean you might encounter even more reasons to cry while trying to get a short sale mortgage loan ? Securing a short sale mortgage loan isn’t that different from purchasing a standard home. What’s a short sale ? Well, it depends.

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HomeLight

DECEMBER 31, 2020

If we didn’t have them involved, I don’t know that we’d ever get to closing.”. Although many states require a real estate attorney’s involvement at closing , regardless of the complexity of the transaction, using an attorney is more than a formality. Navigate short sale or foreclosure hurdles and complexities.

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HomeLight

AUGUST 16, 2021

Most REOs are sold on the MLS,” explains Todd Miller, who worked in mortgage banking for over a decade, has purchased several REO homes, and now runs the personal finance website TightwadTodd.com. They determine how fast the process moves, when you’ll close, and often which attorney will close the transaction.

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HomeLight

OCTOBER 5, 2020

As fate would have it, right when you’re ready to start seriously searching for a home to buy, your dream house is listed for sale as a short sale. If you don’t know about short sale requirements for buyers, you might feel like you’re out of luck. What’s a short sale?

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Realty Biz

FEBRUARY 5, 2024

I remember doing hundreds of short-sale transactions. Interest Rates and Financing Costs Interest rates are a critical lever in the economy, directly influencing the cost of borrowing. The cost of financing eats into the expected returns. An example of this can be seen in the aftermath of the housing bubble burst of 2008.

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HomeLight

SEPTEMBER 1, 2022

The so-called appraisal gap began rising in frequency around July 2020, and by June 2021, there was a gap between sales price and appraised value in one-fifth of all home sales requiring financing. Perhaps the appraiser couldn’t find recent sales in the area that closely matched the home being appraised, so the results are off.

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HomeLight

NOVEMBER 9, 2021

You just heard about short sales, and they sound intriguing. But it would be a mistake to think you’re automatically getting a deal with a short sale. Short sales fall into the category of “distressed” sales. Here’s when it’s good to buy a short sale house. First: What’s a short sale?

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HomeLight

JANUARY 3, 2022

Sellers then pick a move date, and can often close in as little as two weeks. However, there still are some contingencies to clear before they can close, such as the home inspection , the home appraisal , and the buyer’s lender approving their mortgage. The closing from start to finish was three and a half weeks, which is great for me.

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HomeLight

NOVEMBER 10, 2021

Though each business operates a little differently, iBuyers generally provide near-instant cash offers for homes, allow you to sell your home mostly or entirely online, and can facilitate much faster closings than a more traditional or financed buyer. Close in as few as 10-14 days. Close in as little as 10 days.

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HomeLight

APRIL 15, 2022

After some email back-and-forth, they get their final iBuyer offer: Offer details: 98% of what a real estate agent estimated they could earn, minus a 5% service fee, a $2,000 repair credit, and 1% in closing costs. . They find this offer to be satisfactory and are able to close in days without mortgage lender involvement. iBuyer offer.

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HomeLight

MARCH 30, 2022

Whether you’re an investor looking for a speedy sale so you can move on to your next deal or a homeowner trying to unload a property quickly to avoid financial strain, you’re in search of real estate cash buyers to purchase your house without a lengthy or uncertain process. Reduce the time it takes to close your sale.

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HomeLight

NOVEMBER 1, 2021

It’s likely that you will sell your home to a buyer who will finance the purchase with a mortgage. According to the National Association of Realtors (NAR), 87% of home buyers finance property purchases with a mortgage. You priced your home based on recent home sale(s) for which the buyer(s) paid well over appraised value.

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HomeLight

OCTOBER 30, 2020

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. If your sale proceeds won’t cut it, the next question is whether you could bring money to the table to cover those costs. What about pursuing a short sale?

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HomeLight

SEPTEMBER 30, 2020

And what about those closing costs or repair expenses? Sanchez adds that major credit setbacks such as a short sale or foreclosure means a buyer will most likely have to wait at least seven years before being able to qualify for a new loan. Closing costs were much more than we anticipated,” says Tarra. “We

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HomeLight

FEBRUARY 28, 2022

HomeLight’s Simple Sale platform provides full cash offers for homes in almost any condition nationwide and in Colorado. Get an offer in as few as 48 hours and close in as little as 10 days. We Buy Houses companies in Colorado typically promise quick, all-cash offers and ultra-fast closings, often in as few as seven days.

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The Close

AUGUST 18, 2022

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.

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Realty Biz

AUGUST 4, 2020

You’ll also be on your own when it comes to marketing to attract qualified buyers ready to make the best offer and close the deal in a short time. Short sales can be complicated. Short sales are complicated. Short sales are complicated. Sell to an investor.

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HomeLight

MARCH 30, 2021

You may have heard a little bit about short sales — enough to know that this type of real estate listing can present some opportunities to get a good deal. But while short sales offer potential opportunities , they come with plenty of potential pitfalls as well. Know if a short sale is the best option for you.

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HomeLight

DECEMBER 2, 2021

One of them is a short sale. The process is complicated and confusing, often leaving a worrisome question in its wake: How long does a short sale stay on your credit? What is a short sale? Your agent will also ensure that all additional legal guidelines required in a short sale are followed.

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Marco Santarelli

OCTOBER 23, 2023

Another way to find cheap homes for sale in California is to look for foreclosures , short sales , auctions , or bank-owned properties. You may have to make an offer quickly , have your financing ready , and be willing to negotiate with the seller or lender.

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HomeLight

FEBRUARY 17, 2022

HomeLight’s Simple Sale platform provides full cash offers for homes in almost any condition nationwide and in Texas. Get an offer in as few as 48 hours and close in as little as 10 days. We Buy Houses companies in Texas typically promise quick, all-cash offers and ultra-fast closings, often in as few as seven days.

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HomeLight

AUGUST 24, 2022

HomeLight’s Simple Sale platform provides full cash offers for homes in almost any condition nationwide and in New Jersey. Get an offer in as few as 48 hours and close in as little as 10 days. We Buy Houses companies in New Jersey typically promise quick, all-cash offers and ultra-fast closings, often in as few as seven days.

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HomeLight

DECEMBER 6, 2022

Receive your offer within a week and close in as little as 10 days. We Buy Houses companies in Denver typically promise to give home sellers quick, convenient all-cash offers, and exceptionally speedy closings, often wrapping up the property sale in as few as seven days. Close the sale and get paid quickly.

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