Finance, Proof of funds and Real-estate owned

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Finance

Proof of funds

Real-estate owned

Definitions for Deal-Seeking Buyers: Short Sales, Foreclosures, and REO Homes

HomeLight

AUGUST 31, 2020

You are typically required to have cash in hand (a cashier’s check and/or proof of funds) for the purchase price of the house and usually cannot get a mortgage loan for the property. At this point it is now called a bank-owned or real estate-owned (REO) property. Source: Dan Meyers / Unsplash).

Short sale

Short sale Sales Banks Inspection

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

The Close

DECEMBER 29, 2022

A short-term loan that covers the cost to build a property until the owner can secure long-term financing. After a good look at their finances, a nice long chat with their financial advisers, and an extensive application with a mortgage lender, they might finally have an answer. Owner financing. Construction loan. Contingency.

Purchase and sale agreement

Purchase and sale agreement Title Proof of funds Pre-approval

Residential Realty Today

Definitions for Deal-Seeking Buyers: Short Sales, Foreclosures, and REO Homes

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

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