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Buying REO Homes? Here’s What to Do — And What Not to Do — According to Experts

HomeLight

So how can you develop that skill that makes the pros so confident — and drives major return on investment? So find out who is listing the current REOs and work on developing a relationship with this person or company.”. Go to your county’s office and ask for the pre-foreclosure list ,” he says.

Banks 105
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What Is a HUD Home? Are the Savings Worth the Risks?

HomeLight

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. Department of Housing and Urban Development , a government agency first created by President Lyndon B.

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20 Home Search Apps that Aim to Help You Close the Deal

HomeLight

The site also offers resources to assist in your due diligence, including the property details page with title information that discloses any known title liens, a property information report including deed history, comparable sales, school ratings, data to determine the property’s value, and sample contacts. Mortgage portals.

Closing 89
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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

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. What if your clients are asking about their due diligence period? Planned unit development (PUD). Pre-approval.