This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Government-owned properties Some mortgages are government-backed, like VA loans and FHAloans. If a buyer with a government-backed loan goes into foreclosure, the government will take control of the property. Preforeclosures A preforeclosure is a home that is in the beginning stages of foreclosure.
If the former homeowner defaulted on an FHAloan, the home may become inventory for various HUD programs, including the Good Neighbor Next Door program. Bank-owned homes may not be the best-staged or the most recently renovated. Make sure the offer includes any important contingencies, such as an inspectioncontingency.
Not getting pre-approved Getting pre-approved is a key component of the early stages of the buying process and will help to maximize your chances of getting your offer accepted. VA Loans can be a lifesaver for active service and veteran personnel, offering zero down payment and lower-than-average mortgage rates.
If a buyer requests further deductions to the price based on their inspection, you may be able to point to how the estimated cost of certain repairs was already baked into the list price. I’ll give an inspectioncontingency, that’s it. For an as-is, the sale can be a win-win situation for the seller.
On occasion, conventional lenders may even finance a fixer-upper property sold “ as is ,” and it’s not impossible to finance a fixer-upper with an FHAloan. Cash eliminates the lender-ordered appraisal as well as the time it takes to close on the buyer’s loan, creating a faster and clearer path to settlement. No staging.
Often, that means advocating for the removal of inspectioncontingencies. “In On occasion, conventional lenders may even finance a fixer-upper property sold “ as is ,” and it’s not impossible to finance a fixer-upper with an FHAloan. No staging. Prioritize a cash offer if you receive one. Skip repairs.
We organize all of the trending information in your field so you don't have to. Join 144,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content