Redfin

MARCH 4, 2025

These properties are often priced below market value, making them attractive to buyers looking for a good deal or hoping to build equity quickly. If the auction accepts financing, make sure you have a pre-approval ready. Short sales A short sale is not the same as a foreclosure or a pre-foreclosure.

Pre-approval

AAOA

MAY 22, 2025

You need to lookthe potential to optimize operations, increase cash flow, and build equity through forced appreciation. Once you start viewing multifamily as a business instead of just real estate, your entire approach changes. Prepare a personal financial statement and schedule of real estate owned (if applicable).

Due diligence

Rochester Real Estate

NOVEMBER 5, 2015

The more assets you have, the stronger your application will be making it easier to get an approval. Assets to be verified include bank statements, 401k and other retirement accounts, stocks or brokerage account statements, real estate owned and any other significant assets. Most have no pre-payment penalties.

Mortgages

HomeLight

JUNE 28, 2021

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction).

Pre-approval

HomeLight

AUGUST 31, 2021

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. Usually, a home goes into pre-foreclosure after several consecutive months of missed mortgage payments, and the lender issues a notice of default.

Pre-approval

The Close

DECEMBER 29, 2022

It generally results in a higher interest rate or additional points, but it’s a way for homeowners to leverage their equity in a property. If your clients are concerned about getting approved for a loan, you can remind them that a co-borrower agrees to back the borrower in a mortgage loan. Home equity conversion mortgage.

Purchase and sale agreement