True Definition of a Traditional Sale
Well here we are with another commonly used phrase in the Real Estate World and a Consumer Guide to Find out what exactly is meant by "Traditional Sale"
Well the True Definition of a Traditional Sale is basically summed up as follows:
- A Home First of All that is NOT a Short Sale or Bank Owned (REO)
- A Home where there Owner is Selling it outright. Now in many cases we are experiencing many "Traditional Sale" Homes due to many Investors Purchasing Homes from Trustee's Sales (Auctions) and Remodeling them and Putting them back on the Market, This has been something that has proven to be a Great Benefit for the Housing Market, being that much of the damage, or lack of care that was done to these homes by the Original owners when they were losing their homes to Foreclosure has now been turned back around once again and resold back to the people.
- You will most likely Close Much Faster on these Homes. Being that there are less parties involved with these transaction, or more so the "types" of parties in these transactions respond much quicker, The Bottom Line is this: The Less Banks are Involved, The Quicker, Smoother Transactions are, So If you are Looking to Buy a Home and want the easiest transaction possible, then Certainly be sure to have your Real Estate Agent Put Traditional Sales to the Top of your List.
- Item to Be Aware of: Be Sure when Offering on these Traditional Sale Properties, that you have a knowledgeable Real Estate Agent that knows the Market, Being that the Vast difference between Bank Owned Homes and Traditional Sale Listings is, Bank Owned Homes or REO's have already been through a BPO Process, Click here for Details on a BPO so you are seeing a pretty Firm Price, when on the other hand Traditional Sales can sometimes be Far from Realistic Fair Market Value, So Again I Highly Stress the Importance of a Great Real Estate Agent, DO NOT try to figure it out yourself, there is no point to that, Remember: Your Agent does not get paid from your Pocket, They get Paid from the Proceeds of the Sale of the Home which is already predetermined before its ever listed on the Market.
Thank you for taking the Time to Read- If you have any other questions Call, Text or Email Travis Wichmann