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How to Buy a Foreclosed Home: The Ultimate Step-by-Step Guide

Redfin

Key takeaways A foreclosed home means the buyer can no longer make payments and the bank has taken the house. There are several types of foreclosure sales – auctions, bank-owned properties, government-owned properties, preforeclosures, and short sales. What is foreclosure?

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Five Types of Forclosure and Tips for Purchasing Each Type

Realty Biz

Pre- Foreclosures . A property goes into pre-foreclosure when a mortgage company notifies the borrower that they are in default on their loan. To find homes in pre-foreclosure you can search sites that specialize in this or you can have an experienced local agent help you out. Bank-Owned Properties.

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How to Buy a Foreclosure: Your Go-To Guide to Distressed Properties

HomeLight

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. A foreclosed home is a property that has been seized by the bank after the homeowner failed to make their mortgage payments. Pre-foreclosure.

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What Is an REO Property, and How to Buy One?

Point2Homes

Often, dealing with the bank directly can allow you to pace your home buying decision and even provide a better deal. Real estate-owned (REO) properties, also known as bank-owned, are properties that have not sold at a foreclosure auction , and as a result, they are owned by the foreclosing bank.

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What Is a HUD Home? Are the Savings Worth the Risks?

HomeLight

HUD’s Office of Housing also includes the Federal Housing Administration (FHA), an agency that insures mortgage loans issued by FHA-approved lenders to protect against losses if a borrower defaults on a loan. The buyer must work with a HUD-approved real estate agent/broker for all bidding (HUD homes are sold at auction).

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Which Tenant “Qualifications” Are Realistic In 2025?

Toronto Realty Blog

In theory, a pre-determined set of criteria would exist, and if the individual meets this criteria, then he or she “qualifies.” TorontoRealtyBlog The definition of “qualification” is highly subjective, is it not? How does one qualify for something? ” But who makes up those criteria? What does this mean?

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How to Sell a House from Out of State: Long-Distance Guide

HomeLight

Selling a house is rarely easy — but it certainly helps if you’re physically nearby to coordinate repairs, approve paint colors, or pop by during your lunch break to check on things. A skilled real estate agent can guide you through how to sell a house from out of state, providing an elevated level of service. Foreclosure.