HomeLight

OCTOBER 5, 2020

But what if it’s a different kind of sale … for example, how much should you offer on a short sale? Enter the short sale : a solution for the seller, and a special opportunity for a buyer. What’s a short sale? Short sales are unique because they require the approval of the seller’s lender.

Short sale 62

Short sale Sales Banks Due diligence 62

HomeLight

AUGUST 16, 2021

So how can you develop that skill that makes the pros so confident — and drives major return on investment? 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.

Banks 103

Banks Pre-qualification Investor Short sale 103

HomeLight

AUGUST 16, 2021

Department of Housing and Urban Development (HUD) homes for sale portal. But if you’ll need financing, now is the time to talk with a lender. Many home auctions require full payment at the time of purchase, while others may allow a short grace period to finalize financing. Source: (Willy Barton / ShutterStock).

Title 106

Title Due diligence Finance Inspection 106

The Close

DECEMBER 29, 2022

A short-term loan that covers the cost to build a property until the owner can secure long-term financing. These mortgages were developed in the 1980s in an era of double-digit interest rates when borrowers were hopeful that the rates wouldn’t rise much more. Due diligence period. Construction loan. Contingency.

Purchase and sale agreement 98

Purchase and sale agreement Title Proof of funds Pre-approval 98

HomeLight

MARCH 10, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. The successful flippers are the ones who have developed good relationships with contractors to keep them honest.” There are a lot of financing strategies,” says Procopio.

House Flipping 83

House Flipping Renovation Investor Finance 83

HomeLight

MAY 27, 2021

Step 1: Prepare your finances. Before you can get a mortgage, you have to have your finances in line. FHA loans are backed by the Department of Housing and Urban Development and accept credit scores as low as 500. Step 9: Do your due diligence. Source: (Matthew Henry / Burst). with a score above 580.

Loans 78

Loans Mortgages Title FHA loan 78

HomeLight

AUGUST 24, 2022

In the years since then, the company developed a mission to revitalize both homes and communities. The selling process at Cash Buyer New Jersey is straightforward, with the same slim due diligence and closing periods as other cash-offer businesses. Financing contingency. 1% to 3% of sale price on top of commission.

Closing costs 73

Closing costs Purchase and sale agreement Closing Staging 73