Housing Wire

APRIL 8, 2021

billion in potential home equity has been uncovered for distressed homeowners facing foreclosure. billion is the amount of surplus funds generated by foreclosure sales on the Auction.com platform between 2016 and 2020. billion in surplus funds over the last five years — an average of more than $36,000 per sale.

Equity 459

Equity Short sale MLS Sales 459

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). Bank-Owned or REO: If a home doesn’t sell at auction, it becomes a real-estate owned home , meaning the bank or lender officially owns it. Short sale.

Pre-approval 111

Pre-approval Short sale Banks Finance 111

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. Pre-foreclosures are commonly confused with the foreclosure process and REOs (real estate owned by a lender). Buying Pre-foreclosures as Short Sales.

Purchase and sale agreement 101

Purchase and sale agreement Short sale Loans Inspection 101

Redfin

MARCH 4, 2025

There are several types of foreclosure sales – auctions, bank-owned properties, government-owned properties, preforeclosures, and short sales. These properties are often priced below market value, making them attractive to buyers looking for a good deal or hoping to build equity quickly.

Pre-approval 32

Pre-approval FHA loan Short sale Banks 32

HomeLight

SEPTEMBER 30, 2021

REO owned: If the home doesn’t sell at auction, it becomes real-estate owned, meaning the bank or lender owns it. Finally, a third way to buy a foreclosure is through a real-estate owned, or REO, listing. You can build equity fast. REO listings.

Banks 122

Banks Inspection Equity Investor 122

HomeLight

AUGUST 16, 2021

In the market for a “ real estate owned” property ? 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.

Banks 106

Banks Pre-qualification Investor Short sale 106

HomeLight

SEPTEMBER 1, 2020

If the homeowner fails to catch up on their payments by the auction date, the home is auctioned for sale. The home is now bank-owned (sometimes also called REO, or “real estate owned”). First, it’s worth noting that the term “bank-owned foreclosure” is a bit of a misnomer.

Banks 98

Banks Inspection contingency Inspection FHA loan 98