HomeLight

AUGUST 31, 2021

They’ll put the house up for auction either in a sheriff’s or public trustee sale (the name depends on what foreclosure process your state follows). Bank-Owned or REO: If a home doesn’t sell at auction, it becomes a real-estate owned home , meaning the bank or lender officially owns it. Short sale.

Pre-approval 101

Pre-approval Short sale Banks Finance 101

HomeLight

AUGUST 16, 2021

In the market for a “ real estate owned” property ? REOs for short, these kinds of sales expose buyers to a lot of potential risk. But they also provide a lot of opportunity for big return on investment, too — much bigger, and faster, than you might expect with many traditional sales.

Banks 104

Banks Pre-qualification Investor Short sale 104

HomeLight

SEPTEMBER 1, 2020

If the homeowner fails to catch up on their payments by the auction date, the home is auctioned for sale. The home is now bank-owned (sometimes also called REO, or “real estate owned”). First, it’s worth noting that the term “bank-owned foreclosure” is a bit of a misnomer. Step 14: Closing time!

Banks 82

Banks Inspection contingency Inspection FHA loan 82

HomeLight

MARCH 10, 2023

With more than 17 years of experience in the Syracuse market, Frank Procopio has closed nearly 600 real estate transactions and has personal experience flipping houses, as well as working with investors and homebuyers who are actively flipping houses in the area. Find a Buyer's Agent What is house flipping?

House Flipping 92

House Flipping Renovation Investor Finance 92