Redfin

AUGUST 6, 2025

The truth is, the timeline for buying a house can vary due to a number of factors like financing needs, if it’s a buyer’s or seller’s market, the time of year, and the type of home you’re searching for. Getting your finances in order, saving for a downpayment, and improving your credit score can all add to the time it takes to buy a house.

Pre-approval

Redfin

AUGUST 5, 2025

Among them are: A structurally sound foundation A good roof Easy access from the road Functional heating and cooling Electrical and plumbing systems Adequate well and septic systems, if present Homes of several types can be financed with a USDA loan, as long as they meet the aforementioned eligibility requirements.

Sales

The Mortgage Report

JULY 11, 2025

I think in some cities, like Phoenix, we are starting to see a little bit of foreclosure or short sale happening. Some markets have huge housing shortages and homes for sale. year-over-year, pushing the number of homes for sale above 1 million for the first time since the winter of 2019. The housing market in the U.S.

FHA 203k rehab loan

Redfin

JULY 21, 2025

How to find fixer-upper homes What to look for when buying a fixer-upper How to buy a fixer-upper in 7 steps Financing options for fixer-uppers FAQs What is a fixer-upper house? Financing: Loans for fixer-uppers can get a little more complicated than an average home loan. In this article: What is a fixer-upper house?

Renovation

Redfin

JULY 31, 2025

From your expected sale price, subtract: The full mortgage payoff amount Real estate agent commissions Closing costs Any unpaid taxes, liens, or HOA fees Repair credits or buyer concessions What’s left is your net proceeds—the money you’ll take home, if all goes well. This payoff amount is the baseline for all your other calculations.

Mortgages

AAOA

JUNE 23, 2025

In addition, make sure you: Spring clean your finances. Get your finances in order by reviewing your credit report and fixing any errors. Secure your financing. Have your loan or financing options in order before starting your property search so you’re working with a realistic investment budget and can shop accordingly.

Investor

Redfin

JULY 8, 2025

Address missed payments or initiate home sale Once a homeowner receives a Notice of Default, they have several options to address the situation. A short sale , where the home is sold for less than the outstanding mortgage balance with the lender’s approval, is one possibility.

Purchase and sale agreement

Marco Santarelli

APRIL 27, 2025

For many, especially given the current market conditions centered around high borrowing costs, yes , buying a home with cash in 2025 presents a remarkably strong position, offering distinct advantages that financed buyers just can't touch, though like any big financial move, it requires careful consideration of your own situation.

Finance

Redfin

JANUARY 28, 2025

However, theres a catch: the buyer must still qualify for the loan under the FHA’s guidelines, and any difference between the loan balance and the homes purchase price (the seller’s equity) must be covered, either through cash or secondary financing. Can I assume an FHA loan if the property is a foreclosure or short sale?

FHA loan

Redfin

MARCH 4, 2025

Foreclosure can damage your credit score, so you may want to consider a short sale if this is the case. However, your lender will need to agree to a short sale so its best to speak with them as soon as you can. What happens to your home equity when you sell?

Equity

Redfin

JUNE 30, 2025

Read this Redfin article to find out a few of the most common home sale scenarios and their recommended document retention periods. You should keep paperwork related to the sale of your house for several years after the sale — often at least seven — especially if the sale involved a large gain, home improvements, or any unusual circumstances.

Purchase and sale agreement

Afford Anything

JUNE 10, 2025

Given our ages, net worth, and timeline for reaching work-optional status, how should we approach financing this home? In 2011, I bought a 3,300-square-foot primary residence as a short sale in a highly desirable neighborhood for $645,000. Every 28 seconds an entrepreneur makes their first sale on Shopify!

HR

Housing Wire

FEBRUARY 5, 2025

Knowing about saving, budgeting, investing and mortgage financing will serve you well if you want to target renters who want to jump off the hamster wheel of paying rent, and who are ready to dip their toe into owning a property. The lender owns foreclosures and REOs after a sale has failed or a borrower defaults on their mortgage.

Commercial

Redfin

JUNE 23, 2025

The sale proceeds can be used to pay off the loan, and any remaining equity will be distributed to the estate or heirs. Reverse mortgages : These must usually be paid off quickly after the borrower dies, often forcing a sale. Sell the home in a short sale (with lender approval).

Mortgages

AAOA

MAY 5, 2025

Short Sales: Short sales happen when a property is sold for less than the outstanding mortgage balance, typically with the lenders permission. Tax Liens or Sales: Local governments may sell properties with unpaid taxes to recover the owed amount, often through tax lien auctions or tax deed sales.

Bankruptcy

Housing Wire

MARCH 26, 2024

Fannie Mae and Freddie Mac completed 43,903 foreclosure prevention actions in the fourth quarter of 2023, according to a new report published by the Federal Housing Finance Agency ( FHFA ). The number of completed short-sale and deeds-in-lieu transactions in Q4 2023 totaled 134, a decrease of 12% compared to the previous quarter.

VA loan

HomeLight

SEPTEMBER 30, 2020

But what if you’re buying a short sale? Does that mean you might encounter even more reasons to cry while trying to get a short sale mortgage loan ? Securing a short sale mortgage loan isn’t that different from purchasing a standard home. What’s a short sale ? Well, it depends.

Short sale

Realty Biz

AUGUST 29, 2022

Many more homes have been sold since then and some have even gone through short sales. But what is a short sale exactly, and how is it any different than a regular sale, bankruptcy, or foreclosure? How does a short sale affect you as a homeowner? What You Need to Know About Short Sales.

Short sale

Housing Wire

MAY 20, 2022

Most real estate agents deal with primary homeowners and homebuyers, so they may market an investment property to the wrong audience, delaying the sale. Consider a Short Sale. If you’re in over your head in debt and can’t find your way out, your mortgage company may approve a short sale. Hire a Real Estate Agent.

Short sale

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?

Short sale

HomeLight

SEPTEMBER 30, 2020

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. That being said, the home purchase process is a lot more complicated and drawn out with a short sale because it all hinges on the oversight and approval of a third party: the mortgage lender. Short sales 101.

Short sale

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?

Short sale

HomeLight

AUGUST 16, 2021

Between searching for, viewing, negotiating , inspecting, and possibly renegotiating on a home, the road to the closing table is rarely a short one. And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. What exactly is a short sale? It’s a long sale.

Short sale

HomeLight

JULY 31, 2020

You don’t see as many short sales in 2020 as in 2010; despite their name, they’re neither short nor simple endeavors. If a homeowner is behind on their mortgage payments, owes more money than the property’s current value, and is in danger of foreclosure, a lender may agree to terms of a short sale.

Short sale

Housing Wire

DECEMBER 27, 2021

There has been an explosion of companies offering financing solutions such as bridge loans, iBuying and more. Companies such as Zillow , Refin , Opendoor , Offerpad , Knock.com and Ribbon have put a new spin on financing services that have been around for more than 30 years.

Brokerage

Keeping Current Matters

JANUARY 13, 2021

Michael Sklarz, President at Collateral Analytics : “We may very well see a meaningful increase in the number of homes listed for sale as these borrowers choose to sell at what is arguably an intermediate top in the market and downsize to more affordable homes rather than face foreclosure.”. Bottom Line.

Equity

Mandrona Group

JUNE 21, 2023

Homeowners who fall behind on mortgage payments have 2 main options; short sale or foreclosure. What is the difference between Short Sales and Foreclosures?

Short sale

HomeLight

AUGUST 31, 2020

You may have heard that short sales, foreclosures, or bank-owned properties offer great opportunities for a steal , but what do these different terms mean, and how does the homebuying transaction work for each? What’s the difference between buying a short sale vs. a foreclosure, and where can the best deals be had?

Short sale

HomeLight

OCTOBER 5, 2020

But what if it’s a different kind of sale … for example, how much should you offer on a short sale? Enter the short sale : a solution for the seller, and a special opportunity for a buyer. What’s a short sale? Short sales are unique because they require the approval of the seller’s lender.

Short sale

Housing Wire

MAY 13, 2021

As you probably know by now, the Federal Housing and Finance Agency has limited GSEs to a 7% cap on loan purchases for second home and investment properties. Portfolio Select is a good option for those just two years out of foreclosure, short sale, bankruptcy or deed-in-lieu. How does this impact originators?

Loans

Housing Wire

MARCH 3, 2022

. “Whether it is a natural disaster, a job loss, or an illness, forbearance is wildly effective,” John Lawrence, executive vice president of the Texas-based servicer Selene Finance , said last week during the Mortgage Bankers Association (MBA) Servicing Conference in Orlando. So, it may start to come down.

Principal

Housing Wire

JUNE 18, 2024

This caused systematic failures to respond to thousands of homeowner requests for assistance, and caused financial harm to borrowers, including losing out on home sales and paying unnecessary costs,” the bureau explained. However, many borrowers could not get in contact with anyone at the loan servicing operation.

Loans

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.

Short sale

Housing Wire

APRIL 12, 2021

Founded in 2006 as The Loan Post, the company pivoted to loan modification, short sales, and nonperforming notes following the 2008 financial crisis. Before his time at Credit Plus, Holmes served as the vice president of direct sales in the Eastern U.S. Presented by: CoreLogic. for LandAmerica. .

Commercial

Dwell Real Estate

AUGUST 20, 2021

In Sarasota’s real estate market today short sales are nearly unavoidable. I talk with buyers every day and many of them have questions about how short sales work, how they are different than regular sales, etc. Misconception: A cash offer will make a short sale move faster than an offer with financing.

Short sale

The Close

FEBRUARY 19, 2025

Whether youre a new or experienced real estate investor, you may have asked, What is a real estate short sale? The simple answer is that a short sale is when a homeowner owes more for their home than its current market value and puts it up for sale. What Happens in a Real Estate Short Sale?

Short sale

Point2Homes

DECEMBER 8, 2020

However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. A backup offer is not uncommon in real estate sales. Short Sale. Contingent Statuses. No Showings.

Purchase and sale agreement