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Buyer: Buyers of short sales might get the home at a reduced price — but the property, in all likelihood, has its share of problems. The deal also comes with more red tape than your standard ...
When your home value sinks below the amount you owe on your mortgage and you need to sell the house as soon as possible because you can't keep up with payments, a short sale might be your best option.
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The term ‘instant’ refers to the fact that this type of business aims to provide a faster cash offer on a property than traditional real estate brokers. Valuation of the property takes place online and is an instantaneous or near-instantaneous process which makes use of machine learning and AI technologies.
A house for sale by its owner. For sale by owner (FSBO) is the process of selling real estate without the representation of a broker or agent. This is where the homeowner sells directly to a new homeowner. Homeowners may still employ the services of marketing, online listing companies, but can also market their own property.
This is known as a "purchase and sale" contract, which may have conditions. U.S. residential purchase contracts typically contain an inspection clause, a short period during which the buyer can inspect the property and back out of the contract with the full return of the earnest money, if the property does not pass the buyer's inspections.
The typical commission on a real estate transaction totals somewhere between 5 and 6 percent of the home’s sale price, split evenly between the listing agent and buyer’s agent.
Closing is a sales term which refers to the process of making a sale. The sales sense springs from real estate, where closing is the final step of a transaction. In sales, it is used more generally to mean achievement of the desired outcome, which may be an exchange of money or acquiring a signature. Salespeople are often taught to think of ...