Remove Closing Remove Inspection Remove Short sale Remove Staging
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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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How Do I Find an REO Buyer’s Agent Who Knows Bank-Owned Home Sales?

HomeLight

In a normal home sale, if the home inspection finds issues, you can negotiate with the seller. But with an REO sale, you generally won’t get an additional discount on the price or to ask for repairs. These sales are different from normal sales. Whatever the case, now the house belongs to the bank.

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I Need to Sell My House Fast, What Are My Options?

HomeLight

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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iBuyer vs. Real Estate Agent: How Do the Experiences Compare?

HomeLight

Sellers then pick a move date, and can often close in as little as two weeks. An agent assists in preparing a home to look its best through careful staging reminiscent of an eye-catching department store window display. Now let’s say Sam and Diane consider working with an iBuyer, such as HomeLight’s Simple Sale platform.

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Finding and Buying Off-Market Real Estate

Realty Biz

Homes cannot be listed in the early stages of foreclosure if the seller has tenants and does not want to let them know the home is for sale. Sign up for email alerts for new properties that are not on the market for sale. Foreclosures, short sales, and bank-owned homes are considered non-marketable properties.

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7 of the Top iBuyer Companies That Want to Buy Your Home in 2022

HomeLight

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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Trying to Sell Your House in 7 Days?

HomeLight

By eliminating lender involvement, you open up sales to non-traditional buyers, such as house flippers , buy-and-hold investors , and iBuyers. You skip the process of staging and showing your home and go straight to requesting an offer. Close in as little as 10 days. Step 4: Coordinate on lien searches or inspections.