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.

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HomeLight

SEPTEMBER 1, 2020

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

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HomeLight

AUGUST 31, 2020

Some potential homebuyers pass over foreclosures or buying a bank-owned home entirely because they are daunted by the special considerations that go into this kind of sale. The reality is, there are a variety of substantial pros and cons that any would-be buyer should weigh seriously before purchasing a bank-owned property.

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HomeLight

NOVEMBER 8, 2024

A home is marked as pending once an offer is accepted and both parties have agreed to the sale’s terms. This can mean that the buyer’s financing is approved, the inspection contingency is met, or any appraisal concerns are resolved. More on contingencies in a minute.) Why might a home be listed as pending?

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Inspection contingency Backup offer Inspection Home sale contingency 94

HomeLight

JANUARY 13, 2022

Inspection contingencies. Inspection contingencies mean that a buyer can get a home inspected before the deal goes through, and can back out of the purchase with earnest money intact, depending on what the inspector finds. Inspection contingencies can be waived. Appraisal contingencies.

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

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).

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Inspection Banks Short sale Title 115

Redfin

MARCH 4, 2025

Whether youre looking at homes for sale in San Antonio, TX , or in Wilmington DE , there are options for you. Key takeaways A foreclosed home means the buyer can no longer make payments and the bank has taken the house. Foreclosure is the process of a bank or lender reclaiming a property from a buyer who can no longer make payments.

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