Redfin

MARCH 4, 2025

There are several types of foreclosure sales – auctions, bank-owned properties, government-owned properties, preforeclosures, and short sales. If the auction accepts financing, make sure you have a pre-approval ready. Preforeclosure can be tricky as sometimes the properties may never be for sale.

Pre-approval 35

Pre-approval FHA loan Short sale Banks 35

HomeLight

APRIL 21, 2022

Cash vs. financing : Cash offers usually result in a faster sale than mortgage-backed offers; if speed is an important aspect of the sale, this could make a significant difference. If specific criteria aren’t met, the deal can fall through; i.e., the sale is contingent upon various factors outlined in the offer.

Inspection contingency 111

Inspection contingency Home sale contingency Pre-approval Agents 111

HomeLight

JULY 31, 2020

Loan approval. Because the entire sale hinges on securing this loan, it is a top criteria for closing, and it’s also the most common reason for a delay in the closing process. In fact, buyers should go one step further (if they can) and get pre-underwritten for a loan , which offers even more security for both buyers and sellers.

Closing 119

Closing Purchase and sale agreement Title search Earnest money deposit 119

HomeLight

OCTOBER 29, 2020

Contingencies can range from the relatively minor or otherwise workable — like requesting a $3,000 allowance to fix a plumbing issue that was revealed during inspection — to more serious stipulations, such as a buyer needing to sell their existing house before closing on the next. Negotiable contingencies. Home inspections.

Purchase and sale agreement 81

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 81