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

HomeLight

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?

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How Do I Find an REO Buyer’s Agent Who Knows Bank-Owned Home Sales?

HomeLight

Even experienced homebuyers who’ve already bought and sold a few homes will find the process much different, and they will also need an agent who specializes in REO sales. In a normal home sale, if the home inspection finds issues, you can negotiate with the seller. These sales are different from normal sales.

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Find Real Estate Cash Buyers for a Speedy Sale

HomeLight

Whether you’re an investor looking for a speedy sale so you can move on to your next deal or a homeowner trying to unload a property quickly to avoid financial strain, you’re in search of real estate cash buyers to purchase your house without a lengthy or uncertain process. Reduce the time it takes to close your sale.

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5 Keys To Know About an ‘As Is’ Home Sale Before You Try One

HomeLight

These are all items that you may see listed for sale “as is” on sites like Facebook Marketplace or Craigslist. So how do “as is” sales in furniture and retail translate to “as is” sales in real estate? Buyers can still get an inspection to unearth problems. A home inspection is part of a buyer’s due diligence.

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Finding and Buying Off-Market Real Estate

Realty Biz

Non-market decision The Multiple Listing Service (MLS) does not list all properties for sale. These off-market sales tend to be highest in areas where the housing market is most competitive. Homes cannot be listed in the early stages of foreclosure if the seller has tenants and does not want to let them know the home is for sale.

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Trying to Sell Your House in 7 Days?

HomeLight

However, you aren’t the first seller to need a housing market express lane , and you do have options to improve your shot at a quick sale. Selling your house for cash is a creative way to land a quick sale. You skip the process of staging and showing your home and go straight to requesting an offer.

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I Need to Sell My House Fast, What Are My Options?

HomeLight

Alternatively, you could request a full cash offer through a platform like Simple Sale , slashing your closing timeline to 10 days or the move-out date of your choosing. Myles Daniel , a real estate investor in Greenville, SC, spoke with HomeLight about the types of challenges or situations that can require a fast sale.