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iBuying bloodbath drags on as losses mount

Realty Biz

residential real estate market has proved to be a real test for iBuying companies. The iBuyer will then renovate the home if necessary, and then try to sell it on at a profit. Should the client fail to win approval for a mortgage later, Opendoor will go ahead and buy the home for cash anyway.

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How to Flip a House: A Beginner’s Step-by-Step Guide

Point2Homes

Look for properties in up-and-coming neighborhoods or in residential areas that are in high demand. Distressed properties or fixer-uppers may be cheaper but can pack higher renovation costs. Remember to factor in not just the price of the house but also renovation costs and carrying costs such as taxes, insurance and utilities.

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Selling a Home at Auction: Pros, Cons, and How to Get Started

HomeLight

The National Association of Realtors agrees that auctions can accelerate a sale, in addition to offering these key benefits for sellers: Higher visibility among pre-qualified, prepared buyers who are ready to buy. Your home will be visible to pre-qualified, serious buyers. Step 4: Determine the qualification process for bidders.

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Home Appraiser vs. Home Inspector: What’s the Difference When Selling a Home?

HomeLight

In fact, to help pre-empt the possibility of a delayed or canceled closing due to repair negotiations, some sellers even commission their own appraisal or inspection reports. However, the appraisal might note the home’s increased value because of a newly renovated kitchen with quartz countertops, or its proximity to the beach.

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Loaded With Potential: The Background, Benefits, and Drawbacks of Shotgun Houses

HomeLight

Originally, shotgun houses were only one story tall, but as families grew and residential life changed, some homeowners added space vertically. Greek Revival: Porch columns and angular roofs create a pre-colonial style that can make shotgun houses feel grander in scale. Source: ( Martin, Robert / Public domain via Wikimedia Commons ).

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21 Features That Can Negatively Affect Your Home Appraisal

HomeLight

The appraisal is a crucial step in the closing process; your home must appraise for equal to or more than the sale price for the buyer’s lender to approve their mortgage. Ford shares an example: “In California, pre-1978 and pre-1992 housing were of lower quality. Pre-1978 did not require any corner sheer panels.

FHA loan 104
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Tempted by a Cash Offer for Your Home? Dissect It With This Guide

HomeLight

Your sale is more likely to close and close faster with a cash offer than with an offer that hinges on a mortgage approval. A cash offer is an offer made by a homebuyer who wants to purchase a piece of residential real estate without borrowing money from a lender. When it comes to offers on your home, cash is king for a reason.