HomeLight

AUGUST 31, 2020

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?

Short sale 98

Short sale Sales Banks Inspection 98

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?

Short sale 101

Short sale Sales Banks Backup offer 101

HomeLight

OCTOBER 5, 2020

But what if it’s a different kind of sale … for example, how much should you offer on a short sale? Enter the short sale : a solution for the seller, and a special opportunity for a buyer. What’s a short sale? Short sales are unique because they require the approval of the seller’s lender.

Short sale 92

Short sale Sales Banks Due diligence 92

HomeLight

OCTOBER 11, 2024

A Top Agent Can Help You Find A House You Can Afford We analyze millions of home sales to find buyer’s agents who will show you the right home at the right price. Agents don’t pay us to be listed, so you get the best match. For-sale-by-owner listings: FSBO homes could also represent a potential bargain.

MLS 111

MLS Sales Inspection Agents 111

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 80

Short sale Sales Pre-approval Closing costs 80

CT Homes

APRIL 18, 2024

If you find yourself in a tough financial spot, it’s crucial to understand your options, particularly when it comes to a short sale vs foreclosure. What is a Short Sale? In contrast to a foreclosure, a short sale is a process initiated by the homeowner before the mortgage defaults become unmanageable.

Short sale 58

Short sale Sales Closing Mortgages 58

HomeLight

SEPTEMBER 1, 2020

Not so fast: You need an REO buyer’s agent. 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.

Banks 98

Banks Agents Sales Short sale 98

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 52

Short sale Sales Due diligence Purchase and sale agreement 52

Point2Homes

DECEMBER 8, 2020

However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. Short Sale. Short sales occur when the seller will accept a lower amount than is remaining on their home loan.

Purchase and sale agreement 145

Purchase and sale agreement Backup offer Home sale contingency Short sale 145

The Close

AUGUST 6, 2024

As their agent, you must also know how to protect your clients through the as-is selling process and understand the nuances such as navigating inspections and disclosures. A seller also may sell a home as-is at full market value, even if the repairs are minor, if they’re underwater on their mortgage, or if it is a short sale.

As-is 98

As-is Agents Purchase and sale agreement Inspection 98

HomeLight

MAY 17, 2022

Real Estate Agent. Real Estate Agent at Compass RE Texas. Mary Stewart in Sugar Land , Texas, is in the top 1% of agents in her area for successfully selling homes. I mean, it takes probably, at the minimum, three to four months to get a short sale through.”. Mary Stewart. Mary Stewart. Years of Experience.

Inspection 115

Inspection Banks Short sale Title 115

HomeLight

JANUARY 3, 2022

Whether you should use an iBuyer (instant buyer) vs. real estate agent to sell your home is a hot debate in some real estate circles. iBuyer vs. real estate agent summary. The main trade-off is that the offer could be less than what you’d get listing the home with an agent, and you’ll pay a fee for the iBuyer’s services.

Agents 105

Agents Title Inspection Title search 105

Redfin

MARCH 4, 2025

There are several types of foreclosure sales – auctions, bank-owned properties, government-owned properties, preforeclosures, and short sales. Auctions The most common type of foreclosure sale is by an auction. That means there’s no home inspection or appraisal. What is foreclosure?

Pre-approval 35

Pre-approval FHA loan Short sale Banks 35

HomeLight

NOVEMBER 8, 2024

Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want. We analyze over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs.

Inspection contingency 94

Inspection contingency Backup offer Inspection Home sale contingency 94

HomeLight

MAY 10, 2021

For instance, an agent is an agent, right? While most agents work as either a buyer’s agent or listing agent depending on the particular transaction, some work regularly as buyer’s agents exclusively. If you’re a buyer, you don’t technically need to use a buyer’s agent. What is a buyer’s agent?

Agents 105

Agents Inspection Brokerage Sales 105

HomeLight

MAY 28, 2021

By not understanding the difference between the various types of agents and their specialties, you could waste time looking at houses that aren’t quite right, or spend more money than you should have because your agent lacked the specialist knowledge needed for your search. Realtors® vs. agents vs. brokers. So let’s dig in.

Agents 105

Agents Brokerage Design Short sale 105

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.

Purchase and sale agreement 101

Purchase and sale agreement Short sale Loans Inspection 101

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.

Pre-approval 90

Pre-approval Pre-qualification Title search Inspection 90

Realty Biz

MARCH 2, 2023

Look at Short Sales or Foreclosures When the owner fails to pay their mortgage, the lender can take back the property and evict the occupants. With the house vacant, they can put it up for sale on the market. In addition, you can only inspect the property after winning the auction.

Sales 120

Sales MLS Short sale Banks 120

Realty Biz

JULY 25, 2022

These kinds of properties include condemned houses, hoarder homes, and short sales. If a property has been condemned, the local municipality probably won’t allow the owner or tenants to occupy until repairs have been made and an inspection completed. Short Sales Require Patience and Due Diligence.

Due diligence 100

Due diligence Short sale Sales Inspection 100

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.

Short sale 111

Short sale Sales Agents Days on market 111

HomeLight

MARCH 31, 2022

In this guide, we’ll walk you though what an “as is” sale really means — and what it doesn’t. To make sure you have the best information at your disposal, we talked with top-rated real estate agents across the country who offered their expert insights to help you make the best decision for your home and your future. Avoid foreclosure.

As-is 122

As-is Inspection Investor Short sale 122

Realty Biz

NOVEMBER 18, 2021

A Broker Price Opinion (BPO) is very similar to an appraisal except that a real estate broker (or agent) does it rather than a lender’s appraiser. A BPO is also similar to a comparative market analysis (CMA) that real estate agents use to suggest a listing price to a seller. But don’t mistake a BPO for a home inspection.

Short sale 110

Short sale Inspection Loans Banks 110

HomeLight

FEBRUARY 26, 2021

I think that’s probably the most important piece of this,” says Kim Tupper , a real estate agent of more than a decade in southeastern Pennsylvania who sells properties more than 69% faster than the average agent in the Lincoln University area. But you can’t keep quiet about it, and neither can your agent.

As-is 111

As-is Sales Inspection Investor 111

HomeLight

FEBRUARY 4, 2022

Here’s a riddle for you: What do government websites, real estate agents, and a drive around the block have in common? This happens in one of two ways : through the local court or sheriff’s office in a judicial foreclosure, or through the mortgage company in a power of sale or non-judicial foreclosure. Barnett is one of these agents.

Agents 104

Agents Banks MLS Title 104

Realty Biz

SEPTEMBER 23, 2023

Are you wondering what to ask a buyer's agent before hiring them? Buyer agents play a crucial role in real estate transactions. Understanding the difference between buyer and seller's agents and how buyer's agents are compensated is essential. A few types of real estate agents are vital to understand.

Purchase and sale agreement 70

Purchase and sale agreement Pre-approval Agents Pre-qualification 70

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. Buyers also can use the findings of an inspection to negotiate for repairs or credits.

MLS 105

MLS Backup offer Inspection contingency Purchase and sale agreement 105

HomeLight

JANUARY 13, 2022

You’re getting ready to call your agent to schedule a showing when you notice that the listing says the property is “active contingent.”. Common contingencies include issues with appraisals, home inspections, or the buyer’s home sale. Barnes has completed 10% more deals than the average agent in his area.

Backup offer 97

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 97

HomeLight

MARCH 18, 2022

Step 4: Coordinate on lien searches or inspections. Be sure to discuss your buyer’s policies on lien scenarios, as well as inspections. While many cash buyers purchase homes as is , others may request a credit for repairs found in an inspection. Option #2: Recruit a top agent and make your home irresistible to the market.

Inspection 105

Inspection Investor Sales Agents 105

HomeLight

MAY 19, 2022

There are some misconceptions about what “as is” means, says top-rated Maryland real estate agent Juan Umanzor. “I Yes, according to Umanzor, there is an as-is addendum for agents to complete. Even in the case of an as-is sale, you are still required to provide a list of latent defects to prospective buyers.

As-is 119

As-is Inspection Investor Closing costs 119

HomeLight

MAY 23, 2022

According to Indiana real estate agent Jesse Allen , the biggest reason he sees people try to sell their homes “as is” in Indiana is because they don’t have the funds to make any repairs and their property is in a state of disrepair. The main options to sell a house “as is” include: List ‘as is’ with the help of a real estate agent.

As-is 118

As-is Purchase and sale agreement Inspection Closing costs 118

HomeLight

SEPTEMBER 1, 2020

According to top Florida Real Estate agent Troy Walseth , who has 27 years experience under his belt, “You really can’t buy a ‘foreclosure.’ 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.”. Step 1: Find the right agent.

Banks 98

Banks Inspection contingency Inspection FHA loan 98

HomeLight

MAY 24, 2022

Byron Ford , an agent in New Bedford , Massachusetts, works with 76% more single-family homes than other agents in his area. Real Estate Agent. Real Estate Agent at Keller Williams South Shore. A cash sale: Start to finish. With a cash sale, you can skip a few steps in the typical closing process.

Purchase and sale agreement 111

Purchase and sale agreement Closing Title search Title 111

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. But let’s back up a minute.

Banks 122

Banks Inspection Equity Investor 122

HomeLight

MAY 23, 2022

Josh Muncey , a real estate agent with over $500 million in career sales and 16 years of experience selling in greater Boston, Massachusetts, says, “it’s hard to find a market in the Boston area that’s not feeling red hot lately.”. The buyer may request answers in writing, especially after a home inspection.

As-is 111

As-is Inspection Sales Investor 111

HomeLight

MAY 23, 2022

A lot of times, sellers are trying to remove some future liability by listing their house ‘as is,’ but buyers do, of course, still have the opportunity to inspect it and ask for any repairs or a price reduction,” Rynders says. “So The main options to sell a house “as is” include: List ‘as is’ with the help of a real estate agent.

As-is 116

As-is Inspection Investor Closing costs 116

HomeLight

NOVEMBER 10, 2021

The biggest advantage is ease,” says Lynn Carteris, a top real estate agent with the Oldham Group serving the San Francisco Bay area in California. Some iBuyers will perform an inspection and may reduce their offer price based on what they find out about the home’s condition. Working with iBuyers. Request a cash offer.

Home sale contingency 118

Home sale contingency Sales Closing Short sale 118