HomeLight

OCTOBER 11, 2021

You’re on the hunt for a new home, and in addition to aligning yourself with an experienced agent , you’re also probably spending a lot of time perusing various real estate sites and researching available homes in your area. You see a house you love, but the listing shows that it is an “active pending short sale.”. Wait, what?

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Short sale Sales Banks Backup offer 101

HomeLight

DECEMBER 2, 2021

One of them is a short sale. The process is complicated and confusing, often leaving a worrisome question in its wake: How long does a short sale stay on your credit? What is a short sale? When you receive an offer, your agent will need to submit it to the lender for approval, which can be a lengthy process.

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Short sale Sales Loans Banks 104

Redfin

MARCH 4, 2025

One of the benefits of homeownership is building equity – the amount of the home you actually own. Home equity can be used to help you buy a new home, make improvements to your house to increase its value, or pay off debts. So, how do you calculate how much home equity you have? How is home equity calculated?

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Equity Loans Seller concession Short sale 31

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.

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Short sale Sales Pre-approval Closing costs 80

HomeLight

OCTOBER 30, 2023

“People need to understand to call first and ask for help instead of beg for forgiveness later,” shares top real estate agent Billy Alt , who sells 65% more single-family homes than the average Las Vegas agent. Stay in your house to build equity with a loan modification or forbearance. Arrange a short sale with your lender.

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Short sale Equity Loans Mortgages 116

Realty Biz

AUGUST 4, 2020

What are my options when I have little or no equity? Gil, the better term for what you are referring to is “under-equitied” meaning having less than 20% home equity. When you’re selling, having equity needs to at least cover the costs associated with selling, including paying off the mortgage.

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Equity Short sale Investor Title 59

HomeLight

AUGUST 31, 2021

But right as you’re about to call your real estate agent, you notice there’s a line in there that labels it a foreclosure. We talked with veteran real estate agents with a combined 30-plus years working with foreclosures to bring you a comprehensive guide to the often confusing world of distressed properties. Short sale.

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Pre-approval Short sale Banks Finance 111

Realty Biz

JANUARY 19, 2023

Many people purchase homes with the intent to build equity, though life happens and homeowners end up underwater, whether it is upside down or with negative equity. Winding up with Negative Equity With the change in the market, housing prices fall and rise. It is best to wait until you bring your equity into positive territory.

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Short sale Equity Loans Mortgages 84

RIS Media

MARCH 25, 2021

When the housing bubble burst, roughly nine million families lost their homes to foreclosure or short sale between 2006 and 2014. According to the Federal Reserve, foreclosures during a time of high unemployment could depress prices, plunging homeowners across the country deeper into negative equity. in December 2019.

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Marketing Equity Lending Short sale 131

HomeLight

OCTOBER 30, 2020

Don’t wait until your foreclosure is 30 days away from the sell date,” says Bethany Mendoza , top real estate agent in the Modesto, California area who’s helped clients navigate selling their home to avoid foreclosure. Take your next steps with a qualified agent. Subtract selling fees. It costs money to sell a house.

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Short sale Banks Equity Mortgages 105

Realty Biz

JULY 25, 2022

These kinds of properties include condemned houses, hoarder homes, and short sales. Short Sales Require Patience and Due Diligence. The last type of property that requires a different level of understanding is a short sale. Not every homeowner is eligible to do a short sale.

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Due diligence Short sale Sales Inspection 100

HomeLight

DECEMBER 1, 2021

Batterman works with 74% more single family homes than the average agent in the area. We also connected with HomeLight Home Loans Mortgage Sales Leader Richie Helali, who offered an insider’s look at mortgage options that could help you hold on to your home — or let it go without falling into foreclosure. When to think twice.

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Purchase and sale agreement Short sale Loans Mortgages 111

HomeLight

JULY 31, 2022

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. Check your equity to get started. As a military member selling a house, the options available to you depend on your equity , which is the percent of your home that you own outright.

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VA loan Purchase and sale agreement Short sale Pre-approval 95

Redfin

MARCH 4, 2025

There are several types of foreclosure sales – auctions, bank-owned properties, government-owned properties, preforeclosures, and short sales. These properties are often priced below market value, making them attractive to buyers looking for a good deal or hoping to build equity quickly. What is foreclosure?

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Pre-approval FHA loan Short sale Banks 35

HomeLight

JULY 25, 2022

The most common reason for selling a house after one year is job relocation, according to Brad Gore , a top agent who works with 74% more single-family homes than the average Branson, Missouri, agent. You can sell a home whenever you want, but expect financial consequences if you have little equity in it. A family emergency.

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Closing costs Short sale Equity Sales 110

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. The REO sales process is much the same as any traditional sales process. The bank lists the property with a real estate agent. This becomes REO.

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Purchase and sale agreement Short sale Loans Inspection 101

HomeLight

JUNE 8, 2021

For one, you could list your house with a top real estate agent who knows how to get your house sold in a snap. 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. No agent, no open houses, no house tours.

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Short sale Sales Agents Days on market 111

HomeLight

JULY 25, 2022

The average length of home ownership has shrunk to just seven years, according to Brad Gore , a top agent who works with 74% more single-family homes than the average Branson, Missouri, agent. Primary reasons for this include lack of equity accumulated in the home and insufficient appreciation – an increase in property value.

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Closing costs Equity Short sale Agents 111

Easy Agent Pro

OCTOBER 29, 2020

Overnight, real estate agents became “short sale experts” during a time when few even knew what the term meant. Brush up on the foreclosure and short sale process by taking the classes (it’s actually a one-day session you can do online” leading to NAR’s short sale and foreclosure designation.

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Short sale Land Commercial Equity 85

HomeLight

DECEMBER 29, 2020

HomeLight’s Q3 2020 survey reveals that 92% of surveyed real estate agents say they are experiencing a strong seller’s market, and they feel it’s going to stay that way for a while. Some houses are even entering bidding wars, according to 88% of agents who participated in our survey. Sellers have equity, and short sales are unlikely.

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Short sale Loans Equity Sales 105

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 : A meeting during which ownership of a home is transferred from seller to buyer, usually attended by the buyer, the seller, both real estate agents and the lender.

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Pre-approval Pre-qualification Title search Inspection 90

HomeLight

SEPTEMBER 30, 2021

“A foreclosed property is a property that has gone through the legal process of foreclosure where the bank seeks to regain ownership of the property to make good on a debt,” explains top Seattle real estate agent Ken Crotts , who works with over 66% more single family homes than the average area agent. You can build equity fast.

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Banks Inspection Equity Investor 122

HomeLight

OCTOBER 1, 2020

It’s good to understand the market of the moment,” says Madison-based real estate agent Lynn Holley , who works with 72% more single-family homes than the average agent in Madison. Short sales in the neighborhood . In some cases, short sales may be to blame for a low appraisal. Talk to your agent.

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Purchase and sale agreement Short sale Rent back Sales 98

HomeLight

MARCH 23, 2023

But no matter the timing, experts agree that it’s important to identify some essential cooperative actions that can lead to a successful sale. Dawn Bremer , a top agent in McHenry, Illinois, specializes in helping divorcing or divorced clients. Who’s responsible for choosing the real estate agent? Who has access to those assets?

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Short sale Sales Agents Inspection 105

HomeLight

AUGUST 14, 2024

Find an Agent Who Knows Rental Properties HomeLight’s Agent Match platform can connect you with a top agent who knows the ins and outs of selling rental properties in your market. Our free tool analyzes over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs.

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Finance Equity Agents Investor 111

CT Homes

MARCH 7, 2024

The Role of Equity Equity is the portion of your home that you truly “own” — the difference between your home’s market value and the outstanding balance of your mortgage. Until you’ve paid off the mortgage entirely, the lender holds an interest in your home.

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Purchase and sale agreement Mortgages Equity Short sale 78

HomeLight

NOVEMBER 30, 2022

Home improvement shows have popularized the concept of “flipping” houses, bringing this segment of the real estate industry into the living rooms of everyday Americans, even inspiring some to take on the challenge of buying a home needing TLC, updating the home with old-fashioned sweat equity, and selling for a nice profit. Real Estate Agent.

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House Flipping Inspection Renovation Finance 111

HomeLight

JUNE 30, 2021

Between favorable mortgage interest rates and a low inventory of available homes for sale, buyers were submitting purchase offers of thousands of dollars over asking price , and sellers (and their agents!) Today, with the help of housing market experts, including top New Bedford, Massachusetts-based real estate agent Byron Ford, Jr.

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Equity Loans Lending Industrial 93

HomeLight

SEPTEMBER 30, 2021

Most of my sellers have a mortgage,” echoes Rebecca Carter, a top real estate agent in Knoxville, Tennessee. Here are the quick points to know on how to sell a house with a mortgage: You’ll use the proceeds from the sale of your home to pay off your existing mortgage balance. Subtract) agent commission fees (an average 5.8%

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Mortgages Debt-to-income ratio Equity Closing costs 105

HomeLight

JUNE 16, 2023

The amount a buyer can save varies depending on the supply of foreclosures; when there aren’t many foreclosures, the discounts available at foreclosure sales aren’t as steep as they might be at another time. When housing prices are especially strong, homeowners typically have lots of equity in their homes. after six months.

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Hard money loan Equity Finance Loans 98

HomeLight

JUNE 24, 2022

First and foremost, you need to know how the divorce home is valued , and how your equity in the home will be split. Your answer could impact how the equity split from your home is calculated. You bought the home recently and haven’t had much time to build up equity. Real Estate Agent. Dana Browning. Dana Browning.

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Purchase and sale agreement Equity Sales Agents 105

HomeLight

JULY 6, 2023

That’s why it’s important for your real estate agent to keep your property’s status up to date, both in the multiple listing service (MLS) that agents cooperatively use, as well as in online marketplaces, which pull data from the MLS. contingent,” so you can present your home accurately and still meet your selling goals.

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MLS Backup offer Inspection contingency Purchase and sale agreement 105

HomeLight

APRIL 29, 2022

Whether you’re thinking about selling your home, borrowing from your home equity, or canceling private mortgage insurance (PMI) , it’s worth considering how to increase home value for an appraisal. Sources: HomeLight’s Top Agent Insights Report for New Year 2022 , Remodeling Magazine 2021 Cost vs. Value Report.

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Equity Agents As-is Construction 122

HomeLight

DECEMBER 31, 2020

But selling too soon can be just as risky, causing you to forfeit sizable equity in a fast-appreciating property. Several agents asked if he was interested in selling, but he decided to rent it out. You’ve got a ton of equity to cash in on. That earned equity translates into more profit for sellers.

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Equity Investor Closing costs Property Management 106

Lighter Side of Real Estate

JANUARY 4, 2023

But if they are unwilling to help in any way, they may at least give you time to sell your house—or approve a short sale if necessary—rather than initiate the foreclosure process. Just because you’re unable to make your payments doesn’t mean you can’t or won’t make money on the sale of your house. Consider selling your house.

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Short sale Mortgages Equity Sales 97

HomeLight

APRIL 30, 2021

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. Some agents charge from $100 to $200 for a CMA, says George Herring , a top real estate agent and single-family homes expert serving the Dallas, Texas, area. Actually, there is.

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Marketing MLS Agents Renovation 111

RIS Media

MARCH 23, 2022

resulted in repayment plans, short sales, deed-in-lieus or other reasons. The takeaway: Walsh claims multiple factors contributed to this positive trend including “the availability of variable loss mitigation options, low unemployment that is now below 4.0%, strong wage growth, and rising home equity.”. The remaining 1.2%

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Loans Mortgages Staging Short sale 98