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How and When to Buy Foreclosure Property

Realty Biz

Many of these will be new investors that don’t have experience with the pre-foreclosures, short sales, and foreclosures, that occurred during the Great Recession. The REO sales process is much the same as any traditional sales process. The primary option when a house is worth less than the loan is a short sale.

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What is a BPO and When to Use Them?

Realty Biz

But don’t mistake a BPO for a home inspection. A professional home inspection is much more thorough about looking for damage and repairs needing to be made. One of the few times that a lender will use a BPO instead of requiring an appraisal is for a short sale. Bank-owned property sale of a foreclosed property.

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Frequently Asked Questions about Buyers Agents in Real Estate

Realty Biz

The agent also helps with the paperwork, including making offers, reviewing contracts, and coordinating inspections and appraisals. Whether it's residential, commercial, or investment properties, working with an agent with expertise in your desired area can be highly beneficial.

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How to Find Short Sale Homes: A Guide for Buyers

HomeLight

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?

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What Happens to a House in Probate? 3 Common Paths for Estate Property

HomeLight

This process varies from state to state but generally follows the same steps: the executor partners up with a top real estate agent to handle the transaction, orders a home inspection , and then the house goes on the open market like a traditional home sale to bring a buyer to the table. Why does that matter?

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3 Different Types of Real Estate Agents (And 7 Subtypes), Explained

HomeLight

Both my partner and I are luxury certified, and we have a certified residential specialist, as well.”. They also help buyers through the post-purchase processes of home inspections and necessary repairs, often providing a list of home inspectors and repair-people they can recommend. Perhaps a foreclosure or short sale?

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Buying a Foreclosure at a Home Auction? Here’s How Much You’ll Probably Spend

HomeLight

In areas with a lot of residential demand, flippers or future landlords may crowd foreclosure auctions hoping to snag a deal — just like you. When a home goes up for auction, the process for purchasing it will be different than if you were to buy a home in a more traditional way, with a full inspection. Buyer beware!