Real Trends

OCTOBER 21, 2022

Are we on the all-new crazy train, destined to crash off the cliff in a pile of short sales and foreclosures? Are distressed sales headed to your market? The headlines say that the influx of active listings will drive prices down, reduce the velocity of sales and, consequently, wreck the market. Is the bubble bursting?

New Construction 105

New Construction Equity Short sale Construction 105

HomeLight

SEPTEMBER 30, 2021

You’d like to sell your current home, but the mortgage isn’t paid off yet. Consider that most mortgages come with 15 or 30 year terms, while 52% of recent sellers sold before owning their home for 10 years, according to data from the National Association of Realtors. Next, find out how much you owe on your mortgage.

Mortgages 103

Mortgages Debt-to-income ratio Equity Closing costs 103

RIS Media

SEPTEMBER 21, 2020

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. Fees may include the appraisal, the home inspection, a title search, a pest inspection and more. Mortgage interest rate : The price of borrowing money.

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Pre-approval Pre-qualification Title search Inspection 64

HomeLight

AUGUST 31, 2021

A foreclosed home is a property that has been seized by the bank after the homeowner failed to make their mortgage payments. Usually, a home goes into pre-foreclosure after several consecutive months of missed mortgage payments, and the lender issues a notice of default. Short sale. Source: (Adam Wilson / Unsplash).

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Pre-approval Short sale Banks Finance 102

HomeLight

MARCH 23, 2023

She is passionate about giving her clients the benefit of both her inexperience — when she was a homeowner whose divorce led to the short sale of her home — and her current experience as a knowledgeable real estate professional. Who will pay the mortgage, property tax, and insurance? Unsure What to Do With the House?

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Short sale Sales Agents Inspection 90

HomeLight

JUNE 8, 2021

If you don’t have the patience for this timeline, including the 49 days you’ll spend waiting for a traditional buyer’s mortgage to wrap, you’ll need to get creative with your plans. Even if your mortgage company has initiated the foreclosure process, you can still sell your home independently prior to your scheduled auction date.

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Short sale Agents Sales Days on market 109

HomeLight

SEPTEMBER 20, 2022

Short sales can provide an excellent opportunity for potential homebuyers to score a good deal. If you’re in the market to buy a short sale home, you’ll need to prepare for a lengthy closing process and steel yourself to jump through some hoops not generally associated with traditional sales. What is a short sale?

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Short sale Sales Pre-approval Equity 89

HomeLight

OCTOBER 5, 2020

As fate would have it, right when you’re ready to start seriously searching for a home to buy, your dream house is listed for sale as a short sale. If you don’t know about short sale requirements for buyers, you might feel like you’re out of luck. What’s a short sale?

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Short sale Sales Pre-approval Pre-qualification 82

HomeLight

SEPTEMBER 1, 2020

When a homeowner stops making mortgage payments , eventually the bank will foreclose on their house, and the property will become bank-owned. The steps in between the first missed mortgage payment and a bank-owned foreclosure follow a pattern like this: The homeowner fails to make at least three consecutive months of mortgage payments.

Banks 83

Banks Inspection contingency Inspection FHA loan 83

HomeLight

JUNE 23, 2023

This process varies from state to state but generally follows the same steps: the executor partners up with a top real estate agent to handle the transaction, orders a home inspection , and then the house goes on the open market like a traditional home sale to bring a buyer to the table.

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Probate sale Agents Sales Closing 94

HomeLight

MARCH 30, 2021

You may have heard a little bit about short sales — enough to know that this type of real estate listing can present some opportunities to get a good deal. But while short sales offer potential opportunities , they come with plenty of potential pitfalls as well. Know if a short sale is the best option for you.

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Short sale Sales Pre-approval Closing costs 60

HomeLight

AUGUST 16, 2021

Christina’s course: Working with Foreclosures and Short Sales. HUD Homes for Sale. Today, she has sold more than 4,000 homes total and around 2,500 of those have been foreclosures or short sales. We also have millions of homeowners that are delinquent on their mortgage. Links and Show Notes.

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Marketing Short sale Bankruptcy Banks 75

The Close

AUGUST 18, 2022

I’ll inspect your home and property from top to bottom to reveal true problems affecting its successful sale: from specific condition issues, through lot sighting, home sighting, and location. You can put an end to your frustrations … stop the hemorrhaging flow of your equity down the drain, and get on with your life right now!

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Purchase and sale agreement Title Closing Short sale 98

HomeLight

OCTOBER 5, 2020

The lender that’s trying to collect on the defaulted mortgage will order an appraisal on the home to determine its worth. An auction price will depend partly on what the owner still owed on the previous owner’s mortgage. Those other claims might include: A second mortgage on the home. A home equity loan or line of credit.

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Due diligence Earnest money deposit Banks Inspection 54

Realty Biz

JULY 25, 2022

These kinds of properties include condemned houses, hoarder homes, and short sales. If a property has been condemned, the local municipality probably won’t allow the owner or tenants to occupy until repairs have been made and an inspection completed. Short Sales Require Patience and Due Diligence.

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Due diligence Short sale Sales Inspection 102

HomeLight

APRIL 29, 2021

With competing buyers and rising home prices, you could net more than what recent sales in your neighborhood suggest. If you’re looking to move, a seller’s market is a great time to cash out on your home equity. A flood of homes for sale gives homebuyers more options to choose from. Your bank account will thank you!

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Marketing Sales Agents Construction 109

HomeLight

JULY 25, 2022

Primary reasons for this include lack of equity accumulated in the home and insufficient appreciation – an increase in property value. Comparable properties nearby : Real estate comps are recent nearby home sales that affect the sale price and value of your home. The market is the largest driver of price,” Gore says.

Closing costs 96

Closing costs Equity Short sale Agents 96

HomeLight

JULY 6, 2023

Here are 5 common contingencies in real estate contracts: Inspection contingency A buyer and their lender understandably want a home inspection to make sure they’re not investing in a lemon. Buyers also can use the findings of an inspection to negotiate for repairs or credits. How does a listing status get changed?

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MLS Backup offer Inspection contingency Purchase and sale agreement 97

HomeLight

JULY 25, 2022

You can sell a home whenever you want, but expect financial consequences if you have little equity in it. There are a number of reasons for this, including lack of equity accumulated in the home and insufficient appreciation – an increase in property value. Like any investment, you don’t get profit if you hold it a short time.”.

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Closing costs Equity Short sale Sales 93

HomeLight

SEPTEMBER 30, 2021

Preforeclosure: The lender sends a notice of default to inform the owner that they must get up to date on their mortgage payments within a certain timeframe — or they will face foreclosure. Something to note here: Many of these preforeclosure homes are not listed for sale. You can build equity fast.

Banks 108

Banks Inspection Equity Investor 108

HomeLight

NOVEMBER 30, 2022

Home improvement shows have popularized the concept of “flipping” houses, bringing this segment of the real estate industry into the living rooms of everyday Americans, even inspiring some to take on the challenge of buying a home needing TLC, updating the home with old-fashioned sweat equity, and selling for a nice profit. Closing costs.

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House Flipping Inspection Investor Renovation 104

HomeLight

JANUARY 19, 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. An inspection might cost a few hundred dollars, but a $400 inspection can keep you away from a $10,000 or $20,000 problem,” he says.

House Flipping 100

House Flipping Inspection Renovation Finance 100

HomeLight

JANUARY 4, 2022

HomeLight’s 2020 agent survey found that buyers who would traditionally use a mortgage are finding ways to pay cash however they can. Buyers who re-invested their equity. A study from HomeLight echoes that 61% of agents have seen almost-retirees cash out of their homes a few years earlier than planned given recent equity gains.

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Investor Finance Inspection Sales 98

HomeLight

OCTOBER 1, 2020

After a low appraisal on your dream home , you may assume that this is the end of the road because it may mean the termination of your mortgage loan if you can’t work out a deal. Short sales in the neighborhood . In some cases, short sales may be to blame for a low appraisal. Be prepared to walk away.

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Purchase and sale agreement Short sale Rent back Sales 91

HomeLight

MAY 23, 2022

A lot of times, sellers are trying to remove some future liability by listing their house ‘as is,’ but buyers do, of course, still have the opportunity to inspect it and ask for any repairs or a price reduction,” Rynders says. “So Consider a pre-listing inspection. Which types of homes are sold ‘as is’?

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As-is Inspection Investor Closing costs 110

HomeLight

JUNE 24, 2022

First and foremost, you need to know how the divorce home is valued , and how your equity in the home will be split. Your answer could impact how the equity split from your home is calculated. You bought the home recently and haven’t had much time to build up equity. What happens to the mortgage after I divorce?

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Purchase and sale agreement Equity Sales Agents 104

HomeLight

FEBRUARY 9, 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. FHA 203K Mortgage : This option allows homeowners to finance up to $35,000 in repairs identified by an FHA home appraiser or inspector.

House Flipping 90

House Flipping Hard money loan Finance Investor 90

HomeLight

AUGUST 24, 2022

However, this buyer needs a mortgage to finance the deal, and that can take months. By contrast, a cash sale can be wrapped up in as few as 7 to 10 days since the transaction doesn’t require a lender’s involvement. mortgage process. Skip the appraisal. Inside the Florida cash home buyers market. Property investors.

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Purchase and sale agreement Title search Proof of funds Title 107

HomeLight

OCTOBER 1, 2020

She was drawn to foreclosures because, “For me, having a house that has equity has always been important. Many homebuyers like buying and knowing that they have immediate equity, above and beyond the down payment, in the house. Christina Griffin is a top agent who’s listed and sold thousands of foreclosures in Florida.

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Purchase and sale agreement Banks Earnest money deposit Equity 56

HomeLight

MARCH 21, 2022

House flippers look for specific improvements to boost equity, such as cosmetic updates, mechanical repairs, an addition, or a change to the layout. Sundae provides sellers with their highest offers to review four business days after the home inspection and disclosure process. million depending on the market. Trade-in companies.

Closing costs 99

Closing costs Home sale contingency Investor Closing 99

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. According to Wise, putting in a little sweat equity on the interior work can improve your profit margin. “If Find a Buyer's Agent What is house flipping?

House Flipping 93

House Flipping Renovation Investor Finance 93

HomeLight

APRIL 29, 2022

“Some people have a lot more time and energy to engage and make the best of the sale, and some people don’t,” says George Graham , a top real estate agent in the Seattle, Washington, area. An as-is home sale often indicates that the home has some “big-ticket items” that won’t pass the required inspection or appraisal, he adds.

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As-is Purchase and sale agreement Investor Inspection 74

HomeLight

FEBRUARY 24, 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. FHA 203K Mortgage : This option allows homeowners to finance up to $35,000 in repairs identified by an FHA home appraiser or inspector.

House Flipping 97

House Flipping Renovation Investor Finance 97

HomeLight

JULY 31, 2021

Value-add is the process of remodeling a home or complex to increase the value and add equity,” Shipwash explains. “In In addition, these properties allow for multiple exit strategies for investors, including flips, short- or long-term rentals, or wholesales.”. Inspection period. Step 6: Pass the inspection.

Earnest money deposit 98

Earnest money deposit Inspection Proof of funds Inspection contingency 98

HomeLight

FEBRUARY 24, 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. FHA 203K Mortgage : This option allows homeowners to finance up to $35,000 in repairs identified by an FHA home appraiser or inspector.

House Flipping 79

House Flipping Renovation Investor Finance 79

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. Adjustable-rate mortgage (ARM). Acceleration clause. Active contingent.

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