HomeLight

AUGUST 31, 2020

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?

Short sale 89

Short sale Sales Banks Inspection 89

HomeLight

FEBRUARY 4, 2022

If you’re in the market for real estate, either as an investment or a residence, REO (which stands for “real estate owned” also known as “bank owned”), homes can offer you a deal, but without the hassle of dealing with a foreclosure auction. Department of Housing and Urban Development for one dollar.

Agents 80

Agents Banks MLS Title 80

The Close

DECEMBER 29, 2022

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. This can lead to a short sale, foreclosure auction, and/or the lender taking possession of the property. Planned unit development (PUD). Real-estate owned (REO).

Purchase and sale agreement 97

Purchase and sale agreement Title Proof of funds Pre-approval 97