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

The Close

How else would you and your clients understand how much is being paid in principal and interest over the years? A short-term loan that covers the cost to build a property until the owner can secure long-term financing. This can lead to a short sale, foreclosure auction, and/or the lender taking possession of the property.

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Can You Sell a Home in Foreclosure? Why Time Is of the Essence

HomeLight

Whatever stage you’re in, it’s natural to feel paralyzed with disappointment, sadness, and a sense of panic when those overdue notices and warnings come from your mortgage company. If your sale proceeds won’t cut it, the next question is whether you could bring money to the table to cover those costs. What about pursuing a short sale?

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Can I Sell a Home After Owning It 2 Years? Here Are 8 Things to Consider

HomeLight

Here are a few of the details: Length of time: You must have used the home you are selling as your principal residence for at least two of the five years prior to the date of sale. It also does not have to be the two years immediately preceding the sale. Expect to pay 9%-10% of the sale price.

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Can I Sell a Home After Owning It 1 Year?

HomeLight

Choose a short sale: If you’re behind on your mortgage payments or owe more than the home’s current value, you may want to think about a short sale as a way to avoid foreclosure. That can include a short sale, foreclosure, deed in lieu of foreclosure, or loan modification.