HomeLight

JUNE 24, 2024

For those not involved in real estate investment but needing to bridge the gap between buying and selling a home, this guide also offers alternatives to help you leverage your home’s equity. You can then make a strong offer on your next home with no home sale contingency. How does a hard money loan work?

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Finance Hard money loan Home sale contingency Loans 69

HomeLight

JUNE 24, 2024

Unlike traditional loans, hard money loans are often favored by investors with tight timelines, limited initial capital, or unique credit challenges. We’ll cover how these loans work, their typical uses, and potential costs. You can then make a strong offer on your next home with no home sale contingency.

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Hard money loan Home sale contingency Loans Lending 52

HomeLight

FEBRUARY 26, 2024

They’re going to do a conventional loan, and then do an equity loan so that they can afford it.” Unlock equity from your existing home For many, the key to affording a million-dollar home lies in the equity of their current property. Here’s a short video illustrating how HomeLight Buy Before You Sell works: 2.

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Purchase and sale agreement Debt-to-income ratio Equity Loans 95

HomeLight

MARCH 13, 2023

A cash sale may provide the speed and efficiency you need. Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer within a week and close in as little as 10 days. In this article, we explain how to find and sell to a Los Angeles area cash home buyer.

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Sales Purchase and sale agreement Due diligence Inspection 85

HomeLight

JANUARY 12, 2024

A lot of people don’t have the money — they’ve got equity in their home, but they have no way of accessing it,” says Eddie Crosslin , an agent with Crye-Leike Real Estate Services. Melinda is a top-selling agent in Tennesee who completes 18% more sales than the average agent in the state.

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As-is Investor Residential Closing costs 92

Kyle Handy

JANUARY 18, 2023

Unfortunately, calculating ROI can be complicated and intimidating for novice real estate investors. Fortunately, straightforward strategies enable even first-time investors to assess their rental properties’ profitability accurately. It’s important to remember that this includes any closing costs or other fees.

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Property Management Renovation Investor Closing costs 88

Kyle Handy

MAY 5, 2023

In this post, I’ll do a complete analysis and breakdown of the expenses, cash flow profit, and amount of equity for each of my three rental properties, which I’ve owned for three to four years. Cash-Out Refinance You can take out a cash-out refinance when your home’s value or the equity you have in it increases.

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Hard money loan Property Management Equity Closing costs 92

HomeLight

JANUARY 22, 2024

Matt Megel , managing partner with CAZA Group , which sells homes 85% faster than the average Virginia agent, says that unlocking their home’s equity on a budget is one of the main drivers for homeowners wanting to sell their property “as is.” “One Skip repairs and close in as few as 10 days.

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As-is Inspection Renovation Equity 85

HomeLight

OCTOBER 11, 2021

You see a house you love, but the listing shows that it is an “active pending short sale.”. And just what is a short sale, anyway? Is a short sale home purchase for you? And can you still make an offer on an active pending short sale? Short sales defined . What causes a short sale? Wait, what?

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HomeLight

JULY 12, 2022

If you are thinking about selling your home, those low-hassle, convenient, fast-sale pitches may pique your interest. You may be curious about getting an online quote for the sale of your home. Selling to an investor group or iBuyer isn’t attractive to everyone. Like you, they thought there had to be a catch. Request Offer.

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Purchase and sale agreement Investor Equity Closing 80

HomeLight

AUGUST 10, 2022

HomeLight’s Simple Sale platform provides full cash offers for homes in almost any condition nationwide and in Chicago. Get an offer in as few as 48 hours and close in as little as 10 days. Diamond Equity Investments. This cash homebuying company guarantees a fast and convenient closing. Individual investor fees may vary.

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Closing costs Purchase and sale agreement Closing Staging 71

Redfin

DECEMBER 7, 2020

Investors and first-time homebuyers will quickly buy up an impending wave of foreclosures from homeowners saddled with debt during the pandemic . First-time homebuyers and investors will likely quickly buy up any foreclosed homes, leaving the larger housing market unimpacted. More than 3.3. million of U.S. New listings are up 6.9%

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Marketing Equity Investor Loans 79

CT Homes

AUGUST 24, 2021

Investors removing themselves can occur for a plethora of reasons: market fluctuations, financial changes, or general life and goal adjustments that are natural to occur over time. Successful investors know the importance of developing a solid exit strategy before an investment is ever finalized. Exit Strategy #1: Sell.

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Investor Loans Development Equity 88

HomeLight

AUGUST 16, 2021

REOs for short, these kinds of sales expose buyers to a lot of potential risk. But they also provide a lot of opportunity for big return on investment, too — much bigger, and faster, than you might expect with many traditional sales. It is your skill as an investor to make educated decisions about your investment decisions.”.

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HomeLight

JULY 30, 2021

Most agreements stipulate that the buyer will rent the house for anywhere between one and three years before purchasing it, and the sales price is usually set at the time of the agreement. Additionally, a certain amount of the monthly rent is also typically stipulated to help cover the buyer’s closing costs or down payment.

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Purchase and sale agreement Debt-to-income ratio Pre-qualification Inspection 98

Realty Biz

FEBRUARY 19, 2024

Brian Davis, a real estate investor and owner of Spark Rental , weighed in with the following advice. The parcels that dragged my portfolio down were the ones where I just thought “Oh that’s great discount for this piece of property, I know I’m buying it with equity, I’ll just list it for full market value and see who comes along.”

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Land Due diligence Title search Finance 127

Redfin

JULY 14, 2023

If you’re considering buying a home in Birmingham, it’s important to know the median sale price for a home is $255,000. For many residents of Birmingham, this means it may cost less to rent a home than buy a home in today’s market. In 2022, the average home price was around $300,000 and today the median sale price is around $255,000.

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Equity Fixed-rate mortgage Closing costs Inspection 48

HomeLight

DECEMBER 31, 2020

But selling too soon can be just as risky, causing you to forfeit sizable equity in a fast-appreciating property. Take it from two investors who have experienced both sides of the coin: Source: (Viktor Forgacs / Unsplash). After commissions and closing costs, he profited about about $85,000. A missed $185k opportunity.

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Equity Investor Closing costs Property Management 75

HomeLight

OCTOBER 25, 2021

“In the right scenario, yes,” it may make sense to sell to your renter, says AJ Petterson with The Advisory Realty Group , a high performance real estate team in Minneapolis that also specializes in Townhome sales. As is advisable in any home sale, work with a top real estate agent to evaluate the strength of your renter’s offer.

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Purchase and sale agreement Title Closing Equity 91

HomeLight

SEPTEMBER 7, 2021

Whether it’s money saved, equity from the sale of a previous home, a cash windfall, or using a cash offer platform from a lender, buying a home for cash has become more and more common. Do you report the sale? Source: (LinkedIn Sales Solutions / Unsplash). Are you responsible for any additional taxes or fees?

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Loans Title Equity Mortgages 85

HomeLight

APRIL 26, 2023

If you need to sell your house fast in Dallas, whether you’ve inherited a house, you’re relocating for work, need to cash out your home’s equity fast, or are looking to put a divorce behind you, the two best strategies are: 1) seek out a cash offer, or 2) work with a top real estate agent. The company has 4.6

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Agents Sales Closing Staging 84

HomeLight

APRIL 21, 2023

If you need to sell your house fast in Phoenix, whether you’ve inherited a house, you’re relocating for work, need to cash out your home’s equity fast, or are looking to put a divorce behind you, the two best strategies are: 1) seek out a cash offer, or 2) work with a top real estate agent. Flippers are short-term investors.

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Closing Investor Staging Agents 85

HomeLight

JANUARY 3, 2023

Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Colorado.

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Purchase and sale agreement Inspection MLS Inspection contingency 94

Marco Santarelli

SEPTEMBER 4, 2023

Investment Decisions: Real estate investors use tax assessed values to evaluate potential investment properties. The Significance of the Asking Price Asking price is the amount at which a seller lists their property for sale. Negotiation: Buyers often negotiate with sellers to arrive at a final sale price.

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Sales Investor Marketing As-is 52

HomeLight

JULY 26, 2021

As an investor, you gain or lose money depending on what’s happening in the market at a set moment in time. As you pay down your mortgage principal, you build equity in your home. There’s also always the option to sell your home and walk away with your equity, minus whatever closing costs you owe at the end of the sale.

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Equity Principal Mortgages Loans 100

HomeLight

JUNE 28, 2021

Buying a HUD home isn’t like traditional home sales. Collinge also suggests taking a hard look at the house and making a list of what you believe needs work to bid accordingly — and don’t be afraid to request that HUD cover some closing costs to make up the difference. Fed up with investors buying you out on your home search?

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Pre-approval Pre-qualification FHA loan Inspection 89

Housing Wire

AUGUST 21, 2023

The fastest-growing housing tech firm in 2023 was OptiFunder , which claims to produce the mortgage industry’s only optimization software built to systematically decision warehouse funding allocations and automate the complicated process of funding through loan sale. Based in Missouri, OptiFunder had a three-year growth rate of 4,767%.

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Equity Technology Investor Lending 370

HomeLight

APRIL 26, 2023

If you need to sell your house fast in Los Angeles, whether you’ve inherited a house, you’re relocating for work, need to cash out your home’s equity fast, or are looking to put a divorce behind you, the two best strategies are: 1) seek out a cash offer, or 2) work with a top real estate agent. No showings, no repairs, no open houses.

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Agents Closing Sales Staging 75

Redfin

JUNE 28, 2022

That could mean fewer interested buyers, fewer offers, and possibly a smaller sales price. How to prepare for your home sale. Moving costs. If you haven’t built adequate equity in your home, it may not make financial sense to sell. There are a few ways to quicken the home sale process. Creating a selling strategy.

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Staging Renovation Closing costs Agents 63

HomeLight

AUGUST 31, 2021

They’ll put the house up for auction either in a sheriff’s or public trustee sale (the name depends on what foreclosure process your state follows). Different types of foreclosure sales. Distressed sales accounted for just 1% of all home sales in April 2021. Short sale. Auction sale. Pre-foreclosure.

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Pre-approval Short sale Banks Finance 93

HomeLight

JANUARY 10, 2023

With such impressive sales figures, some sellers may be curious about how to sell a house by owner in California — a decision that could help them save on agent commissions. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Fast Fasts for Selling a House in California.

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Purchase and sale agreement Natural hazards disclosure Inspection Title 86

HomeLight

MARCH 13, 2023

Whatever your reason for needing a quick sale without making a substantial investment, the Orlando real estate market is teeming with cash buyers ready to make a deal no matter your home’s condition. Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready.

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Sales Investor Due diligence Renovation 74

Realtor.com

DECEMBER 14, 2022

Those still scarred from the Great Recession will remember watching in horror as millions of homeowners lost their properties to foreclosures and short sales after their mortgage payments suddenly spiked. And since you’re paying only interest for the first decade, you aren’t building up equity in the home unless it appreciates.

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Fixed-rate mortgage Mortgages Loans VA loan 102

Realtor.com

DECEMBER 14, 2022

Those still scarred from the Great Recession will remember watching in horror as millions of homeowners lost their properties to foreclosures and short sales after their mortgage payments suddenly spiked. And since you’re paying only interest for the first decade, you aren’t building up equity in the home unless it appreciates.

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Fixed-rate mortgage Mortgages Loans VA loan 99

HomeLight

MARCH 31, 2023

The bridge lender will lend the buyer the equity they have built in their existing house so they can move forward with the purchase of a new home. So in the past few years, I think it’s pretty easy [for borrowers to qualify] because of the equity spike. 3 spot amongst all states for the highest average rents in 2022.

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Equity Loans Debt-to-income ratio Finance 76

Housing Wire

MARCH 2, 2021

SG: It can help close loans with greater speed and ease, reduce vendor oversight, mitigate risk, lower costs and ease underwriting reviews for lenders, servicers and investors. Now, more than ever, the mortgage and real estate industries require efficient, cost-effective and reliable due diligence solutions.

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Title Lending Due diligence Title search 366

Redfin

JULY 24, 2023

If you’re looking to buy a home in Naperville , the current median sale price for a home is $587,201 as of July. Owning a property allows you to stop paying another to live and start building equity into your own asset. It’s also good to build an emergency fund in case you incur any unforeseen costs.

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Renovation Inspection Closing costs As-is 51