Appraise | To fix or set a price or value upon.
Categories
Tag: foreclosure
Categories
Aurora Colorado foreclosure
Q7: What are foreclosures and how do I learn more about buying foreclosures? – Answer: Foreclosure is a legal process that allows a lender/bank to sell or take possession of a property due to non-payment of a loan that is secured by that property. RealtyTrac posts properties that have already been foreclosed (Bank Owned) and properties that are in the foreclosure process (Pre-Foreclosure, Auction). Buyers have three opportunities to purchase property during foreclosure. Buying Pre-Foreclosure, Buying at Auction, Buying Bank Owned (REO)
Categories
Appraisal foreclosure
Appraisal | A valuation or an estimation of value of property by disinterested persons of suitable qualifications; the process of ascertaining a value of an asset or liability that involves expert opinion rather than explicit market transactions.
Categories
Bakersfield California foreclosure
Q6: How do I check property liens, value and equity? – Answer: Additional liens against a property (these can include delinquent taxes) can be researched several ways.
Categories
Amortization foreclosure
Amortization | The repayment of a debt in installments.
Categories
Cincinnati Ohio foreclosure
Q5: How do I contact the lender to buy a bank-owned property (REO)? – Answer: If the property is Bank Owned (REO), your first step is to contact the bank, called the lender on RealtyTrac’s Property Details page. The lender now owns the property. You should ask for the lender’s REO department or bank-owned property department to proceed with possibly buying the property.
Categories
All-Inclusive Deed of Trust foreclosure
All-Inclusive Deed of Trust | A form of deed of trust that, in addition to any other amounts actually financed, includes the amounts of any prior deeds of trust. Sometimes referred to as a wrap-around or over-riding trust deed.
Categories
Anaheim California foreclosure
Q4: How do I buy property I see posted on RealtyTrac? – Answer: How you go about buying a property posted on RealtyTrac depends on the property status. If the property is For Sale By Owner or a Resale Home, you would approach the owner or the listing agent to make an offer. If the property is in foreclosure, the process of buying will differ from the typical real estate purchase.
Categories
Alienation Clause foreclosure
Alienation Clause | A term of a mortgage which requires that the borrower pay in full the principal and interest due upon the sale of the property. ( See Acceleration or Due-on-Sale Clause)
Categories
Santa Ana California foreclosure
Q3: How do I buy bank-owned REO properties? – Answer: The lender/bank has taken ownership of the property, either through an agreement with the owner during pre-foreclosure or at the public auction. The lender usually sells the property to recover the unpaid loan amount. The lender typically clears the title for any buyer, but the potential bargain is often less than a pre-foreclosure or auction property.