Remove Equity Remove MLS Remove Pre-approval
article thumbnail

How online auctions deliver on the promise of pre-foreclosure sales

Housing Wire

The great promise of short sales and other distressed pre-foreclosure sales as a foreclosure alternative is most fully realized in a competitive and transparent online auction marketplace, according to recent data from the Auction.com Market Validation Program (MVP) for pre-foreclosure sales. Pre-Foreclosure Potential.

Sales 417
article thumbnail

What Does ‘Under Contract’ Mean on a Home Listing?

HomeLight

Oriana Shea , a top-rated agent in California who has been helping homebuyers for 26 years, says that, depending on local multiple list service (MLS) rules and where the property is located, a listing might actually be tagged as “contingent” rather than under contract. What contingencies might be attached to ‘under contract’ listings?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Buy a Foreclosure: Your Go-To Guide to Distressed Properties

HomeLight

You’re reading through a new MLS listing, and you believe you found your ideal home. The exact steps vary from state to state, but let’s take a general look : Pre-foreclosure: As the name implies, a pre-foreclosure isn’t in foreclosure yet, but it’s on the way there. Pre-foreclosure. Auction sale.

article thumbnail

How To Buy and Sell a Home at the Same Time—in Today’s Haywire, High-Interest Rate Housing Market

Realtor.com

The good news for home sellers is that over the past year, demand for homes has driven prices through the roof, pushing home equity to record levels. “Two-thirds of homeowners right now are sitting on a sub-4% mortgage, and about a quarter are sitting on a sub-3% mortgage,” says Lisa Sturtevant , chief economist of the Bright MLS.

Marketing 119
article thumbnail

How to Buy a House in 15 Steps: The Ultimate Guide

Redfin

Homeownership is a long-term investment, and staying in one place allows you to build equity and stability. Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI). Long-term goals Do you plan to live in an area for at least five years?

article thumbnail

Your Dream Home Appraised Lower than Your Offer: Now What?

HomeLight

While rare, Zagorsky has seen a buyer successfully negotiate this when the seller was retiring and downsizing and had significant equity in the home. If you were eager to get started house-hunting, you might have applied for pre-approval with one bank rather than shopping around. Option 2: Find a new lender.

article thumbnail

How to Sell a House by Owner in Colorado

HomeLight

However, be aware that if you get a pre-listing inspection, you will be required to share relevant findings with buyers and how you did or did not address them. Since you won’t be able to access MLS data without a real estate license, you’ll need to look at major home search sites to collect your data. Get a pre-listing appraisal.