Redfin

JUNE 30, 2025

General paperwork guidance for all home sale situations Key documents to keep : Purchase and sale agreements , closing statements, deeds, title insurance policies, receipts for home improvements, mortgage payoff statements, and any tax-related forms.

Purchase and sale agreement

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. Websites like theMultiple Listing Service (MLS)often list foreclosures, bank-owned properties, and short sales. Your county tax office is a good place to start.

Bankruptcy

Housing Wire

MARCH 17, 2021

WFG Title Insurance will now offer forbearance, loan modification, and foreclosure information reports as part of its general title and closing services. ” Pre-foreclosure sales are a promising alternative to foreclosures – here’s why. The post WFG expands title offerings for servicers appeared first on HousingWire.

Title

Housing Wire

NOVEMBER 15, 2022

Loans up to $3 million 12 or 24 months personal or business bank statements allowed 1099 earning statements accepted Two years seasoning required for bankruptcy, foreclosure, short sale or deed-in-lieu. We help investors buying their 22nd property and those needing to title in an LLC. Loans up to $1.5

Bankruptcy

Housing Wire

NOVEMBER 3, 2023

titlegenius by Radian, provided by Radian Settlement Services, allows homebuyers and sellers to easily manage their title transaction and closing online and receive real-time updates from their agent for a cohesive experience. Loan must close to be eligible for reimbursement of credit toward closing costs at closing.

Closing costs

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

Housing Wire

MAY 9, 2022

To persuade people of this, probably one of the most important articles I have ever written in my life was in 2019, titled: Housing Bubble 2019? A lot of mortgage debt went away due to foreclosures and short sales, bringing home prices way down. wasn’t in a second housing bubble. Currently, the balance sheet of the U.S.

Short sale

Housing Wire

OCTOBER 17, 2023

“Our goal is to help you avoid a foreclosure sale while protecting your credit score and preserving your equity.” Even the Consumer Financial Protection Bureau (CFPB) has weighed in, with a January 2023 blog post titled “For many struggling mortgage borrowers with home equity, selling their home could be an alternative to foreclosure.”

MLS

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

Housing Wire

JULY 11, 2023

My office will seek to hold the defendants accountable for allegedly stealing titles to victims’ homes while pretending to help them.” According to the indictment, the group allegedly acquired a property in bankruptcy proceedings in a short sale, and two defendants moved in and occupied that home as their primary residence.

Bankruptcy

Housing Wire

DECEMBER 27, 2021

rms now get as much, or more, of their earnings from mortgage, title insurance and other core settlement services,” Steve Murray, senior advisor to RealTrends, said. “As The first cause of the decline is the growth in competition for productive agents and a variety of new brokerages. Another factor is that leading market-share brokerage ?rms

Brokerage

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

SEPTEMBER 28, 2023

Loan modifications, deeds in lieu and short sales have now become the preferred path to addressing defaults, although none of them are 100% effective. The next major change in the default landscape is the way those who hold the loans, the lenders, are reacting to default. Final thoughts This is an industry of partnerships.

Industrial

Keeping Current Matters

OCTOBER 21, 2020

A decade ago, there wasn’t a forbearance option, and most banks did not put in other programs, like modifications and short sales, until very late in the crisis. Today, the vast majority of homeowners have significant equity in their homes. This dramatically decreases the possibility of strategic defaults.

Equity

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

HomeLight

MAY 17, 2022

A short sale is a type of preforeclosure; when a homeowner stops making payments on their mortgage and owes more on the home than the house is worth in the current market, then they will need to sell the house for less than they owe, and the lender will be “short” on the amount of money they accept in the sale (hence the name).

Inspection

HomeLight

DECEMBER 30, 2021

Lawyers represent the buyer’s best interests, explain the process to them, and also make sure that the title is clean. In some states, you could have three attorneys involved — the buyer’s attorney, the seller’s attorney, and the mortgage lender’s attorney — in a purchase and sale.

Purchase and sale agreement

RIS Media

SEPTEMBER 21, 2020

Approved for short sale : A term that indicates that a bank has approved a homeowner for a reduced listing price on a home, and said home is ready for resale. Closing costs : Fees associated with the purchase of a home due at the end of the sales transaction. The document includes loan terms, monthly payment and closing costs.

Pre-approval

Realty Biz

JULY 19, 2022

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. If the house is worth less than the outstanding loan, the seller has options, but a straightforward pre-foreclosure sale is seldom one of the options.

Purchase and sale agreement

HomeLight

NOVEMBER 8, 2024

Property title issues: Problems with the property’s title , such as unresolved liens or ownership disputes, can halt the sale. Bank denies short sale offer: In a short sale , the bank must approve the sale terms. If they reject the buyer’s offer, the deal won’t proceed.

Inspection contingency

HomeLight

MAY 24, 2022

A cash sale: Start to finish. Every home sale has its quirks, but in general, “a cash sale can be turned over in a week to two weeks,” according to Suz Poepke Pohl, owner and escrow agent at Cygneture Title for the past 10 years. With a cash sale, you can skip a few steps in the typical closing process.

Purchase and sale agreement

Lighter Side of Real Estate

OCTOBER 31, 2022

When you buy or sell a house, there’s a good chance that a title company or attorney will be handling the closing. Then they create a fake email address that looks like it’s coming from the title company, and instruct you to wire money to their own account. 1) Asking you to wire escrow or closing cost money.

Closing costs

Point2Homes

JUNE 4, 2021

It’s also essential to run a title search on the property. Once the bidding is over and you’ve paid the required amount, you will receive a Trustee’s Deed of Sale , which acts as proof of ownership. You might also want to buy title insurance soon after to protect yourself from any liens not uncovered during the initial title search.

Title search

HomeLight

SEPTEMBER 21, 2020

Typically the claim involves either the title to the property or a claimed ownership interest in it. A lis pendens is recorded on the title of the home, just like any other lien or mortgage. Another option is to contact a title company and request that they run a title search on the property, or ask your real estate agent for guidance.

Title

Rent, Buy & Sell

JANUARY 20, 2023

Foreclosures and short sales may be enticing due to low offer prices, but they carry some risks and potentially higher costs. Be Wary of Foreclosures and Short Sales Foreclosures and short sales abound in poor economies. These searches are important because they verify that the home’s title has no issues.

Title search

HomeLight

JANUARY 13, 2022

Title contingencies. A title is the legal right to own a property. A title search reveals who has owned the home in the past and in the present, and whether there are any recorded liens, claims, or judgments made against the home. Very rarely, there will be issues with the title report that cannot be solved before closing.

Backup offer

McKissock

NOVEMBER 13, 2020

If a mortgage lender acquires the title to a property as the result of a foreclosure, the property is called an “REO” property, which is short for “Real Estate Owned.” However, inspecting these types of properties can be dangerous.

Inspection

HomeLight

JANUARY 3, 2022

NAR reports that 5% of recent contracts were terminated , with the most common reasons being appraisal issues (13%), home inspection issues (9%), financing issues (8%), titling or deed issues (4%), or contract contingencies (3%). Now let’s say Sam and Diane consider working with an iBuyer, such as HomeLight’s Simple Sale platform.

Agents

HomeLight

AUGUST 16, 2021

Property inspections aside, Reynolds recommends conducting a proper title review before bidding “to ensure you won’t be stuck with other financial responsibilities after the sale.” Tax, construction, or homeowner’s association liens may follow the home or even inhibit the sale entirely. Buy title insurance.

Title

HomeLight

APRIL 15, 2022

Offerpad and Opendoor estimate these to be between 1% and 2% of the sale price, depending on the state and municipality. Lumped into this sum are things such as escrow fees, title fees, and transfer taxes, all of which are standard for any real estate transaction. Title search. Financing contingency. Closing costs.

Title

HomeLight

AUGUST 24, 2022

The signed contract is then sent to the title company. The buyer runs a title search on the property. Next, the cash buyer will run a property title search to make sure the seller has legal ownership and to check for any outstanding liens on the property that would prevent it from being sold. “A

Purchase and sale agreement

HomeLight

SEPTEMBER 1, 2020

If you know someone who’s bought a foreclosure, short sale, or REO property, talk to them first. The National Association of Realtors (NAR) has a “ short sales and foreclosure” certification, which are similar to REO properties because the buyer is dealing with a bank or government agency on the sell side.

Banks

HomeLight

SEPTEMBER 1, 2020

You can buy a short sale, or you can buy a bank-owned property — but the foreclosure is just what’s happening in the process.”. If your offer is accepted, you start the process of inspections, title checks, and negotiations while securing a mortgage loan and signing the papers when it’s all said and done.

Banks

HomeLight

JULY 31, 2022

In a traditional home sale, the seller pays 9% to 10% in fees upon closing , while the buyer pays 2% to 5%. and 2.25% and any closing or title fees depending on the property’s location. Federal Housing Finance Agency Short Sale Assistance. With a VA loan assumption, the buyer pays a VA funding fee that is between 0.5%

VA loan

HomeLight

JULY 31, 2021

Some, however, are ready to move immediately, in which case we are limited by the bandwidth of the title company to complete the title search process and get all the documents together.”. Both parties sign a contract and submit it to a title company. Process of selling to San Antonio cash buyers.

Investor

HomeLight

MAY 27, 2021

Title search. A title search is a process to confirm the current owner has a clear title to the property and is thus eligible to sell it. A specialist will comb through documents related to the property to make sure there are no issues with the title. The lien must be paid before the house is sold. Hire an attorney.

Loans

HomeLight

AUGUST 31, 2020

An REO should be free of liens or other title issues. And you’ll want to do title research and get title insurance to protect yourself. You do want to get a good inspector, and of course, the title insurance will make sure all the taxes are paid up and current and there are no liens on the property,” Stewart says.

Banks