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

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

HomeLight

JUNE 30, 2024

These websites compile data from banks, government agencies, and real estate services to provide comprehensive listings of homes that are being sold due to the owner’s inability to meet mortgage obligations. Zillow provides detailed listings, including photos, estimated mortgage payments, Zestimate , and neighborhood information.

Short sale 115

Short sale Banks Finance Investor 115

Realtor.com

DECEMBER 14, 2022

That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting. Borrowers can lock in the amount of their monthly mortgage payments (minus taxes, insurance, and homeowners association fees) for the duration of their loans.

Fixed-rate mortgage 102

Fixed-rate mortgage Mortgages Loans VA loan 102

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

HomeLight

MAY 27, 2021

But when it comes to one of the key aspects of buying that home — how to get a mortgage loan — you may draw a blank. No one daydreams about filling out mortgage applications, and the process is complicated because you have to keep track of so many details and make so many choices. Source: (Matthew Henry / Burst).

Loans 98

Loans Mortgages Title Title search 98

Realtor.com

DECEMBER 14, 2022

That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting. Borrowers can lock in the amount of their monthly mortgage payments (minus taxes, insurance, and homeowners association fees) for the duration of their loans.

Fixed-rate mortgage 99

Fixed-rate mortgage Mortgages Loans VA loan 99

CT Homes

MARCH 7, 2024

If you’re a homeowner pondering the possibility of selling your house, you might find yourself wrestling with a common question: Can you sell a home with a mortgage ? It’s a widespread belief that a mortgage chains you to your property until every last penny is paid off.

Purchase and sale agreement 78

Purchase and sale agreement Mortgages Equity Short sale 78

Lighter Side of Real Estate

OCTOBER 31, 2022

1) Asking you to wire escrow or closing cost money. When you buy or sell a house, there’s a good chance that a title company or attorney will be handling the closing. So it wouldn’t be all that weird to get an email from them asking you to wire money for closing costs, the down payment, etc.

Closing costs 145

Closing costs Title Banks Short sale 145

Redfin

MARCH 4, 2025

There are several types of foreclosure sales – auctions, bank-owned properties, government-owned properties, preforeclosures, and short sales. All mortgages place a lien on the property in the event that a lender needs to take ownership of the home. What is foreclosure?

Pre-approval 35

Pre-approval FHA loan Short sale Banks 35

Redfin

JANUARY 28, 2025

If you’re exploring mortgage options or looking to sell your home, whether its a charming home in Nashville or a spacious townhome in Houston , you might wonder: Are FHA loans assumable? The short answer is yesbut there’s more to the story. What is an FHA assumable mortgage? Are FHA loans assumable?

FHA loan 31

FHA loan Loans Closing costs Mortgages 31

HomeLight

JULY 31, 2022

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. Essentially, equity is the market value of your property minus the amount of money you still owe on your mortgage loan. VA-backed mortgage as marketing. Another benefit of VA loan assumption is lower closing fees.

VA loan 95

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

HomeLight

SEPTEMBER 30, 2020

Should you drop a full 20% on a house and avoid mortgage insurance , even if it nearly wipes out your savings? And what about those closing costs or repair expenses? With a larger down payment, you’ll have a lower monthly payment, a potentially lower interest rate, and either a lower or no mortgage insurance payment.”.

Loans 98

Loans Closing costs Short sale Finance 98

HomeLight

SEPTEMBER 8, 2020

One is if the house has gone through foreclosure and Fannie Mae owned the mortgage on it. Fannie Mae is a mortgage guarantor, not a home seller. Fannie Mae offers buyers some special financing options, like a HomeReady mortgage or HomePath Ready Buyer programs. HomeReady mortgage. Source: (Erik Mclean / Pexels).

Closing costs 102

Closing costs Finance Loans Closing 102

HomeLight

SEPTEMBER 1, 2022

When you’re financing your home purchase with a mortgage, the lender wants to make sure the property you’re buying is worth what you’re paying for it. These are called comparable sales , or comps, because they should be similar to your home in terms of size, age, location, and condition. Foreclosures or short sales in the neighborhood.

Purchase and sale agreement 107

Purchase and sale agreement Earnest money deposit Short sale Loans 107

Redfin

MARCH 4, 2025

You can calculate your home equity using the following formula: current home value – current mortgage balance What is home equity? Essentially, this is the amount of home that youve paid off toward your mortgage. This should be on your most recent mortgage statement. How is home equity calculated? 300,000 / $500,000 = 0.6

Equity 35

Equity Loans Seller concession Short sale 35

HomeLight

MAY 24, 2022

Mortgage interest is tax-deductible , and many homeowners appreciate the deduction. If you only pay cash for the down payment, and take out a mortgage for the remainder of the purchase price, it keeps more money in your pocket. He estimates that on a $200,000 house, you could save between $5,000 and $6,000 in closing costs.

Purchase and sale agreement 111

Purchase and sale agreement Closing Title search Title 111

HomeLight

FEBRUARY 17, 2022

Closing costs: We Buy Ugly Houses covers most, if not all closing costs. With Simple Sale, you can get an all-cash offer in as few as 48 hours and sell your home in as little as 10 days, skipping the months it takes to sell the traditional way. Reviews: Simple Sale is a HomeLight platform, and HomeLight has 4.6

Closing costs 97

Closing costs Closing Sales Staging 97

HomeLight

JANUARY 10, 2023

Closing costs: You pay no closing costs; FL Cash Home Buyers covers them. Simple Sale has a network of cash buyers on its platform, and partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold. Reviews : Simple Sale is a HomeLight platform, and HomeLight has 4.6

Closing costs 98

Closing costs Purchase and sale agreement Closing Sales 98

HomeLight

MAY 23, 2022

These companies can help sellers cash out quickly and many will cover a seller’s closing costs. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is 118

As-is Purchase and sale agreement Inspection Closing costs 118

The Close

APRIL 30, 2024

If the seller can offer full or partial seller financing at slightly better than market mortgage rates, a buyer may be willing to pay a little more for the property since they’ll save money on interest payments over time. Sellers can offer help with closing costs, a home warranty, or money toward upgrades or repairs.

Agents 98

Agents Short sale Staging Sales 98

HomeLight

FEBRUARY 28, 2022

Just request a fair cash offer, choose your closing date, and walk away. Closing costs: You pay no closing costs; Sell Quick California covers them. Past sellers comment on fast and transparent communication from owner Marc as well as quick sales and fair offers. Individual investor fees may vary.

Closing costs 97

Closing costs Closing Sales Staging 97

HomeLight

FEBRUARY 28, 2022

The company provides quick offers, flexible closing dates, and $10,000 in earnest money to show that it is serious when buying real estate. Closing costs: The Buy-Out Company covers a seller’s closing costs , but you are still responsible for any prorated property taxes owed. out of 5 as well as a 4.73

Closing costs 98

Closing costs Closing Sales Staging 98

HomeLight

MARCH 21, 2022

These companies can also provide a quick and flexible closing, reduce or eliminate the need for repairs, and in many cases will cover all of a seller’s closing costs. Fees: Sellers pay no closing costs ; We Buy Ugly Houses covers them. Fees: Sellers pay no closing costs ; We Buy Houses covers them.

Home sale contingency 105

Home sale contingency Closing costs Investor Sales 105

HomeLight

DECEMBER 30, 2021

Not only is a home a large financial purpose, but the clauses in your purchase agreement and mortgage agreement also can greatly impact your future. This is why, in almost half of states, an attorney has to at least be present at closing — if not actively overseeing the deal. Average Price Point. Condominiums.

Purchase and sale agreement 97

Purchase and sale agreement Title Short sale Closing 97

HomeLight

APRIL 21, 2022

You found your new home and want to avoid carrying two mortgages. Cash vs. financing : Cash offers usually result in a faster sale than mortgage-backed offers; if speed is an important aspect of the sale, this could make a significant difference. Carrying costs of paying mortgage, utilities, and insurance.

Inspection contingency 111

Inspection contingency Home sale contingency Pre-approval Agents 111

HomeLight

MAY 19, 2022

These companies can help sellers cash out quickly and many will cover a seller’s closing costs. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is 119

As-is Inspection Investor Closing costs 119

HomeLight

JANUARY 3, 2022

In addition, the risks of a settlement cancellation or delay are higher with a traditional sale, especially if the buyer is purchasing the home with a mortgage. They also don’t want the hassle of renting out their old home or carrying two mortgages. When agents and iBuyers work together. All of this takes time. Agent commission.

Agents 105

Agents Title Inspection Title search 105

HomeLight

JANUARY 6, 2023

They provide a cash offer within 48 hours of evaluating the property and work with issues such as probate, foreclosures, short sales, tenant-occupied homes, or homes that need extensive repairs. Closing costs: Sellers pay no closing costs; As Is Now covers them. Reviews: Simple Sale is a HomeLight platform.

Purchase and sale agreement 97

Purchase and sale agreement Closing costs Closing Sales 97

HomeLight

APRIL 15, 2022

After some email back-and-forth, they get their final iBuyer offer: Offer details: 98% of what a real estate agent estimated they could earn, minus a 5% service fee, a $2,000 repair credit, and 1% in closing costs. . They find this offer to be satisfactory and are able to close in days without mortgage lender involvement.

Title 109

Title House Flipping Title search Sales 109

HomeLight

AUGUST 10, 2022

After one showing, sellers get a no-obligation offer and can choose their closing date. Closing costs: According to the company website, Better House Buyers takes care of closing costs. Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. out of 5-star rating.

Purchase and sale agreement 97

Purchase and sale agreement Closing costs Closing Inspection 97

HomeLight

MAY 23, 2022

These companies can help sellers cash out quickly and many will cover a seller’s closing costs. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is 112

As-is Purchase and sale agreement VA loan Inspection 112

HomeLight

AUGUST 16, 2021

Properties get to this point after the borrower stops making mortgage payments for a period of time. If it sells, the lender recoups some of the outstanding loan amount through the sale. These are properties that have been foreclosed , and the ownership has fully transferred to the bank or lender.

Banks 105

Banks Pre-qualification Investor Short sale 105

HomeLight

DECEMBER 31, 2020

After commissions and closing costs, he profited about about $85,000. If I had used all of the rent to pay down the mortgage, I would only owe around $40,000 today, so I would have $185,000 in equity (minus commissions and closing costs) if I still owned the property,” he says. Source: (Freddy G / Unsplash).

Equity 106

Equity Investor Closing costs Property Management 106

HomeLight

MAY 23, 2022

These companies can help sellers cash out quickly and many will cover a seller’s closing costs. But if you do end up working with a financed buyer, be aware that different mortgage types (such as conventional loans or government-backed FHA, USDA, or VA loans) have different minimum property standards.

As-is 116

As-is Inspection Investor Closing costs 116

HomeLight

AUGUST 24, 2022

Closing dates are set at the seller’s discretion, and they can have cash in hand within 7 days. Closing costs: No closing fees for sellers. With Simple Sale, you can get an all-cash offer in as few as 48 hours and sell your home in as little as 10 days, skipping the months it can take to sell the traditional way.

Closing costs 97

Closing costs Purchase and sale agreement Closing Staging 97

HomeLight

DECEMBER 6, 2022

They buy houses in any condition and situation, including homes with structural issues, owners going through financial crises, and estate sales, typically offering between 50% and 70% of Fair Market Value. Closing costs: Sellers pay no closing costs; the Buyout Company covers them. 5 stars and an A+ ranking.

Purchase and sale agreement 98

Purchase and sale agreement Closing costs Closing Sales 98