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.

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Short sale Sales Pre-approval Closing costs 80

HomeLight

JULY 6, 2023

That’s why it’s important for your real estate agent to keep your property’s status up to date, both in the multiple listing service (MLS) that agents cooperatively use, as well as in online marketplaces, which pull data from the MLS. An offer has been accepted, and the sale is expected to close. I can do that from my phone.”

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MLS Backup offer Inspection contingency Purchase and sale agreement 105

HomeLight

JUNE 30, 2024

This site, owned by the National Association of Realtors , aggregates listings from multiple sources, including the Multiple Listing Service (MLS). Each listing includes essential details like photos, descriptions, and contact information for agents or banks handling the sale. Department of Housing and Urban Development ( HUD ).

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Short sale Banks Finance Investor 115

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?

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Short sale Sales Due diligence Purchase and sale agreement 52

HomeLight

AUGUST 31, 2021

You’re reading through a new MLS listing, and you believe you found your ideal home. Let’s take a look at the most common foreclosure sales and how they work. Short sale. A short sale isn’t necessarily a foreclosure sale, but it’s common to see a short sale done to avoid foreclosure.

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Pre-approval Short sale Banks Finance 111

Point2Homes

DECEMBER 8, 2020

Homes for sale may be subject to different contingent statuses, which may also be referred to differently, according to the individual multiple listing service (MLS). Short Sale. Short sales occur when the seller will accept a lower amount than is remaining on their home loan. Contingent Statuses.

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Purchase and sale agreement Backup offer Home sale contingency Short sale 145

HomeLight

AUGUST 16, 2021

You can look for these homes on the multiple listing service (MLS) or on various auction sites. Most REOs are sold on the MLS,” explains Todd Miller, who worked in mortgage banking for over a decade, has purchased several REO homes, and now runs the personal finance website TightwadTodd.com. Check them often. “In

Banks 105

Banks Pre-qualification Investor Short sale 105

HomeLight

MARCH 30, 2022

His client received a cash offer of $60,000 over the asking price, but the sale likely would have fallen through because of a low appraisal if the buyer needed financing. Reduce the time it takes to close your sale. Take away risks of your sale falling through. Benefits of real estate cash buyers.

Sales 111

Sales Investor Renovation Staging 111

HomeLight

FEBRUARY 4, 2022

The bank will then work with a listing agent to list the home on the MLS. Use the MLS. You’ve probably searched Zillow or realtor.com or even individual real estate agent sites for homes for sale — or just to look at the island property you’ve been dreaming about buying when you win the lottery. Track a foreclosure property.

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Agents Banks MLS Title 104

HomeLight

DECEMBER 29, 2023

Fast facts about selling a house ‘as is’ in Minnesota Median sales price in Minnesota $334,900 Average days on market (DOM) for Minnesota 32 days Disclosures Minnesota law requires sellers to disclose material facts about the property through the Minnesota Seller’s Property Disclosure Statement. Yes Is a real estate attorney required?

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As-is Inspection Finance Investor 111

HomeLight

OCTOBER 27, 2021

Whereas with a preforeclosure, you have the ability to finance that transaction and the benefit of seeing the property. And that prospect can be tricky, as these homes aren’t as easy to find as a house that’s listed on the MLS because they’re not for sale.

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Purchase and sale agreement Inspection Homeowner’s association Title 110

HomeLight

MAY 23, 2022

Indiana law requires sellers to disclose material facts about the property through the Seller’s Residential Real Estate Sales Disclosure. MLS has field to mark a listing “as is”? 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 FHA loan.

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As-is Purchase and sale agreement Inspection Closing costs 118

HomeLight

APRIL 29, 2022

MLS has field to mark a listing “as is”? Not in Northwest MLS, the largest MLS in the region ; agents instead will include “as is” in the property notes. Graham will look for items that a seller could do easily to make the property financeable, making it more attractive to investors. “A Disclosures. Advises on easy fixes.

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As-is Purchase and sale agreement Investor Inspection 95

Marco Santarelli

DECEMBER 20, 2020

Let’s learn how to find investment properties for sale. How To Find Investment Properties For Sale: Search For Off-Market Deals. Once the property hits the MLS, you’re going to be in a bidding war with others considering buying the same property. When you search a site like realtor.com, you’ll be searching the MLS.

Sales 79

Sales MLS Renovation Investor 79

HomeLight

FEBRUARY 9, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Financing your flip in California Purchasing a home to flip with cash is almost always going to be in your best interest — however, not all investors have that kind of funding.

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House Flipping Hard money loan Finance Renovation 105

HomeLight

MAY 23, 2022

MLS has field to mark a listing “as is”? In Wisconsin, there is no specific as-is checkbox or label for agents to mark on the multiple listing service (MLS), so that information will need to be included in the listing. Average days on market for Wisconsin. 46 Days (from listing to contract). Disclosures. Real estate transfer taxes?

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As-is Inspection Investor Closing costs 116

HomeLight

MAY 23, 2022

MLS has field to mark a listing “as is”? In North Carolina, there isn’t a specific “as is” checkbox they can use when listing a home on the multiple listing service (MLS), so they have to include it in the Remarks 1 and Remarks 2 fields. Want to know more about the Simple Sale experience? Disclosures.

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As-is Purchase and sale agreement VA loan Inspection 112

The Close

JANUARY 13, 2025

It also allows you to search bankruptcies, tax liens, as-is deals, and short sales nationwide. You can look for foreclosures, bank-owned properties, and short sales and use their calendar to attend in-person property auctions. In addition, their success depends on finding an investor like you to purchase the home.

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House Flipping Investor Renovation Short sale 98

HomeLight

AUGUST 25, 2020

“The sellers that we’ve been able to help with their properties, it’s usually something along the lines of, their home might need some repairs, and they don’t have the finances to be able to pay for those repairs before it hits the market,” he says. Off-market sales have their benefits as well as drawbacks.

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Marketing MLS Pre-approval Sales 78

HomeLight

MAY 19, 2022

MLS has field to mark a listing “as is”? Umanzor says that homes sold “as is” in the area typically sell for less than regular listings and have a reduced buyer pool, which is why he always provides an offer to help finance home improvement projects for his sellers prior to listing a house. Average days on market for Maryland.

As-is 119

As-is Inspection Investor Closing costs 119

HomeLight

JANUARY 3, 2022

NAR reports that 5% of recent contracts were terminated , with the most common reasons being appraisal issues (13%), home inspection issues (9%), financing issues (8%), titling or deed issues (4%), or contract contingencies (3%). Now let’s say Sam and Diane consider working with an iBuyer, such as HomeLight’s Simple Sale platform.

Agents 105

Agents Title Inspection Title search 105

The Close

APRIL 30, 2024

Strategy 2: Offer Seller Financing This idea isn’t as much a price-reduction strategy as it is about attracting buyers. 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.

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Agents Short sale Staging Sales 98

HomeLight

FEBRUARY 24, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Financing your flip in Ohio Purchasing a home to flip with cash is almost always going to be in your best interest — however, not all investors have that kind of funding.

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House Flipping Renovation Finance Agents 105

HomeLight

SEPTEMBER 30, 2020

They have access to MLS listings and can advise you on how to approach the auction — and this includes knowing what amount to spend. Figure out your financing. You can get financing for foreclosed and auction properties… but prepare for some potential obstacles, as well as long approval times from the bank.

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Due diligence Hard money loan Finance Banks 98

HomeLight

FEBRUARY 24, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Financing your flip in Texas Purchasing a home to flip with cash is almost always going to be in your best interest — however, not all investors have that kind of funding.

House Flipping 105

House Flipping Renovation Finance Investor 105

HomeLight

AUGUST 24, 2022

Imagine you list your home for sale and attract a buyer right away who is also willing to offer a top price. However, this buyer needs a mortgage to finance the deal, and that can take months. By contrast, a cash sale can be wrapped up in as few as 7 to 10 days since the transaction doesn’t require a lender’s involvement.

Purchase and sale agreement 111

Purchase and sale agreement Title search Proof of funds Title 111

HomeLight

SEPTEMBER 1, 2020

You can buy a short sale, or you can buy a bank-owned property — but the foreclosure is just what’s happening in the process.”. Ask your agent to find you bank-owned or REO homes on the MLS (multiple listing service) that meet your specifications. Source: Judy Grayson / Unsplash). Step 3: Find available homes near you.

Banks 98

Banks Inspection contingency Inspection FHA loan 98

HomeLight

JANUARY 19, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Financing your flip in Georgia Purchasing a home to flip with cash is almost always going to be in your best interest — however, not all investors have that kind of funding.

House Flipping 105

House Flipping Inspection Renovation Finance 105

HomeLight

FEBRUARY 24, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Financing your flip in Massachusetts Purchasing a home to flip with cash is almost always going to be in your best interest — however, not all investors have that kind of funding.

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House Flipping Inspection Renovation Finance 100

HomeLight

MAY 23, 2022

MLS has field to mark a listing “as is”? 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. Curious to know more about the Simple Sale experience? Real estate transfer taxes?

As-is 111

As-is Inspection Sales Investor 111

HomeLight

FEBRUARY 24, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Financing your flip in Florida Purchasing a home to flip with cash is almost always going to be in your best interest — however, not all investors have that kind of funding.

House Flipping 105

House Flipping Renovation Investor Finance 105

HomeLight

MAY 10, 2021

A buyer’s agent knows where and how to tap into unlisted homes — that is, homes not listed on the MLS where competition may be fierce in a hot market. These might be so-called “ pocket listings ,” or they might be non-standard sales like short sales or foreclosures, which can be even trickier to find (and to navigate).

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Agents Inspection Brokerage Closing 105

The Close

AUGUST 6, 2024

A seller also may sell a home as-is at full market value, even if the repairs are minor, if they’re underwater on their mortgage, or if it is a short sale. Buyers may need help securing financing, resulting in a longer selling timeframe. They simply don’t have the financial resources to pay for anything.

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As-is Agents Purchase and sale agreement Inspection 98

HomeLight

MARCH 10, 2023

Typically, they buy distressed properties — either short sales, foreclosures, or homes that need significant work — fix them up, and sell them for a profit. Financing your flip in New York Purchasing a home to flip with cash is almost always going to be in your best interest — however, not all investors have that kind of funding.

House Flipping 105

House Flipping Renovation Investor Finance 105

HomeLight

SEPTEMBER 30, 2021

Your real estate agent will give you a more precise number using a comparative market analysis (CMA) that analyzes the value of your home based on comparable sales, a tool that you will use to price your home when the day comes. This is where you’ll be able to see: The sale price of the property. Contact your lender.

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Mortgages Debt-to-income ratio Equity Closing costs 105

HomeLight

JULY 31, 2021

Home prices have risen in lockstep with the city’s ongoing improvements and jobs market; in Q2 2021, the median sales price for Maricopa County — where Phoenix is based — saw an annual 27% increase in median real estate sales prices , according to data from the Arizona Realtors MLS. Landlord laws entice Phoenix cash buyers.

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Investor Seller disclosure Sales Closing 98

Kyle Handy

JANUARY 20, 2023

They want to sell their house without an MLS listing or an agent, so they list it on Zillow and wait for potential offers to come in. To be even more creative, you could target those looking up information about a foreclosed home, what it takes to recover a foreclosed property, or how to navigate a short sale with a lender.

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House Flipping Bankruptcy Renovation Investor 89