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. For example, a homeowner may hire a contractor to do a kitchen renovation.

Title search 59

Title search Short sale Title Fixed-rate mortgage 59

HomeLight

AUGUST 31, 2021

Let’s take a look at the most common foreclosure sales and how they work. Short sale. A short sale isn’t necessarily a foreclosure sale, but it’s common to see a short sale done to avoid foreclosure. A seller will usually have to prove financial hardship for the lender to agree to the sale.

Pre-approval 99

Pre-approval Short sale Banks Finance 99

Realty Biz

MARCH 29, 2021

Repair, diy and house renovation concept. Search for a Real Estate Property on Sale. The most advisable flipping modes are distressed properties, short-sales, and bank-owned homes, among other sub-optimal state assets. Consider the following: Offer price Cost of renovation After repair value (ARV).

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House Flipping Renovation Investor Construction 121

HomeLight

DECEMBER 1, 2021

Maybe the real estate market took a dive and you went overboard on past home renovations. Short sale: selling when you owe more than your home is worth. That is, unless your lender agrees to a short sale with a deficiency waiver. Short sales have their drawbacks, though.

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Purchase and sale agreement Short sale Loans Mortgages 108

Realty Biz

MARCH 29, 2021

Repair, diy and house renovation concept. Search for a Real Estate Property on Sale. The most advisable flipping modes are distressed properties, short-sales, and bank-owned homes, among other sub-optimal state assets. Consider the following: Offer price Cost of renovation After repair value (ARV).

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House Flipping Renovation Investor Construction 94

HomeLight

FEBRUARY 24, 2023

After all, someone needs to buy that house you’ve just renovated , and your chances of a quick sale — at a desirable price — are much higher in a location where people want to live. Jenkins also notes that now is a great time to buy and hold a property — as opposed to renovating a house and selling it immediately. “I

House Flipping 96

House Flipping Renovation Finance Agents 96

Realty Biz

NOVEMBER 14, 2023

Target Distressed Properties Distressed properties, such as foreclosures and short sales, are prevalent during a housing market correction. During a market correction, renovating and repositioning properties can be a lucrative approach. These assets can provide a steady cash flow even in a downturn.

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Due diligence Marketing Investor Finance 91

HomeLight

MARCH 10, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Generally, I start from the back — what is the after-repair value (ARV) when the house has been fully renovated? Find a Buyer's Agent What is house flipping?

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House Flipping Renovation Investor Finance 89

HomeLight

FEBRUARY 24, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. There’s an opportunity to do renovations differently than most other house flippers in Texas. Find a Buyer's Agent What is house flipping? It’s very tired,” says Larsen.

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House Flipping Renovation Investor Finance 78

HomeLight

JANUARY 19, 2023

Flipping houses has never been a more desirable pursuit, no doubt thanks in part to the vast popularity of home renovation shows. Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. During this time, 12.9%

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House Flipping Inspection Renovation Finance 98

HomeLight

FEBRUARY 24, 2023

As home renovation shows have skyrocketed in popularity in recent years, so too has the business of flipping houses. After all, someone needs to buy that house you’ve just renovated , and your chances of a quick sale — at a desirable price — are much higher in a location where people want to live.

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House Flipping Inspection Renovation Finance 73

HomeLight

NOVEMBER 30, 2022

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for big bucks. Renovation time. What is house flipping? House flippers buy homes , hold them for a couple of months, and then sell them for a profit (that’s the flip part).

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House Flipping Inspection Investor Renovation 103

HomeLight

FEBRUARY 24, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Year-over-year population growth: Up 1.17% Median home sale price: $380,000 Year-over-year home price growth: Up 8.2% Find a Buyer's Agent What is house flipping?

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House Flipping Renovation Investor Finance 94

HomeLight

JULY 31, 2021

So began the foundations of a business built on buying properties at below-market value, renovating them, and re-selling them on the open market — a process D’Angelo would master and develop training systems around that he could then pass on to others. The approximate cost of renovations and repairs.

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House Flipping Investor Renovation Sales 96

HomeLight

MARCH 29, 2023

They repair and renovate properties in hopes of turning a significant profit. Cash 4 Denver Homes This local company buys houses in various conditions, including short sales and foreclosures, and provides a cash offer within 72 hours. Watson Buys This company buys and renovates properties throughout Denver in various conditions.

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Sales Staging Investor Agents 87

HomeLight

DECEMBER 15, 2022

Pre-foreclosure or short sale transactions. Someone facing a foreclosure or who has negotiated a short sale with their lender could have a very negative reaction. Avoid mentioning plans to remodel or renovate. Avoid mentioning any plans to remodel or renovate the home in your offer letter.

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Inspection Closing Rent back Agents 91

Realty Biz

SEPTEMBER 23, 2021

Home equity can be tapped for renovations, college loans and more. of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales, compared to 3% in August 2020. In 2009, distressed sales comprised 70% of Miami sales.

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Sales Fixed-rate mortgage Short sale Equity 104

HomeLight

MARCH 30, 2022

Investors making a cash offer are more likely to purchase a house as-is , so you can cut costs for renovations , staging , and curb appeal projects. You’ll avoid the inconvenience of showings, open houses, and renovations. Simple Sale, a solution from HomeLight, has a network of real estate cash buyers on its platform.

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Sales Investor Renovation Due diligence 97

HomeLight

MARCH 31, 2022

Repairing or renovating a home can be expensive and isn’t always financially feasible. Selling “as is” allows you to move forward with the sale without making a huge investment or tying up money you need for other purposes. The house is generally in good condition, but they just don’t have the time or the money to do the work.”.

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As-is Inspection Investor Short sale 121

HomeLight

NOVEMBER 29, 2021

A house flipper or home-buying company also may offer cash for your house if you live in a city where a large percentage of houses are affordable compared to the rest of the country and need renovations. They then flip the house for a profit after they complete renovations or sometimes keep it and rent it out. Buy-and-hold investors.

Marketing 85

Marketing Investor Renovation Sales 85

HomeLight

FEBRUARY 9, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Flipping houses requires a delicate balance of availability of homes at discounted prices, making cost-effective renovations , and buyer demand for when you go to sell.

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House Flipping Hard money loan Finance Investor 86

HomeLight

JULY 6, 2023

Some MLSs limit “coming soon” status to 21 days unless the property is new construction or undergoing major renovations without occupancy. Agents also indicate in the MLS what he called “checkbox items,” or coded features, such as if a property has hardwood floors, if it’s a condo, or if it’s a foreclosure or a short sale.

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MLS Backup offer Inspection contingency Purchase and sale agreement 93

HomeLight

DECEMBER 29, 2021

If you seek assistance either locating, sizing up, or calculating renovation costs for a potential investment property, you need an investor-friendly Realtor with specialized knowledge of rehabbing and rental markets in your area. Insight into smart renovation decisions. Skilled at analyzing a deal.

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Investor Property Management Renovation Agents 98

HomeLight

JULY 25, 2022

Age does not necessarily detract from your home’s worth, as long as quality materials and building practices were used and the home has been renovated or at least properly maintained. That can include a short sale, foreclosure, deed in lieu of foreclosure, or loan modification. Fix things.

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Closing costs Equity Short sale Sales 90

HomeLight

JULY 25, 2022

Age does not necessarily detract from your home’s worth, as long as quality materials and building practices were used and the home has been renovated or at least properly maintained. Forgiven debt can include a short sale, foreclosure, deed in lieu of foreclosure, or loan modification. Fix things.

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Closing costs Equity Short sale Agents 93

HomeLight

AUGUST 16, 2021

What will it cost to renovate it so you command either market rent or a sale at a price that represents a margin you’re comfortable with? To figure out whether a property is worth it to you, first establish what you intend to do with it: Do you intend to live in it, flip it, or hold it as a rental property?

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Banks Pre-qualification Investor Short sale 105

Realtor.com

NOVEMBER 29, 2022

About 25% put off home improvements and renovations, while about 15% delayed buying a home. However, home sales will still happen, albeit at a lower level. If there aren’t as many people looking for homes or an influx of cheap housing hits the market, such as short sales and foreclosures, prices tend to come down.

Marketing 90

Marketing Short sale Mortgages As-is 90

HomeLight

FEBRUARY 26, 2021

And in most cases, an investor or flipper who purchases the home will want to make those bigger renovations themselves, as they have the expertise and resources to tackle them faster and less expensively. In an ideal investing scenario, a fixer-upper would have only cosmetic issues, where the renovations would be low-cost and straightforward.

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Investor Inspection Renovation Sales 89

Marco Santarelli

JANUARY 25, 2023

Foreclosures, short sales, and other distressed properties can be found at a significant discount during a recession. Look for these properties and consider renovating and reselling them or renting them out. Here are some strategies for investing in real estate during a recession. Look for distressed properties to buy cheap.

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Commercial Construction Short sale Agents 52

Kyle Handy

JANUARY 20, 2023

You want to purchase a property from someone who needs to sell it at a fair value and then renovate it using your knowledge, skills, and connections. To be even more creative, you could target those looking up information about a foreclosed home, what it takes to recover a foreclosed property, or how to navigate a short sale with a lender.

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House Flipping Bankruptcy Investor Renovation 89

HomeLight

FEBRUARY 4, 2022

Barnett, for instance, will walk the property with clients (or via video) to identify things that would need to be repaired or renovated. An agent with REO experience will be able to explain what it means if the HVAC is missing or the roof is leaking, guiding you through things you will have to fix or deal with. Use the MLS.

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Agents Banks MLS Title 81

Marco Santarelli

DECEMBER 20, 2020

In other cases, the investment property is the one in desperate need of repairs or renovations. Fix-and-rent is a hybrid of these two approaches, buying homes in need of repair, making the needed renovations and repairs, and then renting out your newly desirable rental property.

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Sales MLS Renovation Investor 73

HomeLight

JULY 31, 2021

They can purchase a property at a discount, providing value through a quick sale to the owner, and leverage their funds and expertise toward a profitable renovation. This gives us a good idea of the condition of the property, so we know where we can provide value in the sale. In need of renovations or updates. Good bones.

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Earnest money deposit Inspection Proof of funds Inspection contingency 98

HomeLight

FEBRUARY 26, 2021

According to the 2020 Profile of Home Buyers and Sellers from the National Association of Realtors (NAR), 44% of buyers who purchased new homes did so to avoid renovations and problems with plumbing or electricity. Buyers fear inheriting a house with a host of hidden problems. Enter real estate disclosures.

As-is 97

As-is Sales Inspection Investor 97

HomeLight

AUGUST 16, 2021

This is why buying a home at auction can be risky, but for many investors and home renovation experts, the opportunity to buy a home at a great price makes it a worthwhile gamble. When all is said and done and the home is yours, it’s up to you and your plans for the home as to whether to move in or begin renovations.

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Title Due diligence Finance Inspection 110

HomeLight

APRIL 30, 2021

It’s also a helpful tool for homeowners who might be considering some renovations and wonder what the return on investment might be for adding that deck or upgrading the master bath. A real estate agent performs a comparative market analysis, or CMA , before your home hits the market to help arrive at a decent asking price.

Marketing 98

Marketing MLS Agents Renovation 98

HomeLight

AUGUST 24, 2022

According to a 2019 study, almost one-fifth of the homes sold in South Florida were purchased by buyers looking to rent them out or renovate and flip them. Investors are more likely than traditional buyers to purchase properties with cash. Cohen agrees that in his market, the 70% AVR rule has risen along with the spike in housing demand.

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Purchase and sale agreement Title search Proof of funds Title 106