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Is Free and Clear A free and clear property doesn’t have a mortgage. ***
Is Upside Down An upside-down mortgage happens when the owner owes more than the house is worth. The loan-to-value (LTV) is greater than 100%. ***
Is Potentially Inherited Potentially inherited describes a property may have been transferred either from parents to children or from spouse to spouse. Owners may be looking to sell because they feel the property is a burden. ***
Is Potentially Distressed Potentially distressed is when the property owner is in some level of financial distress. ***
Is Longtime Owner A longtime owner is an owner who has lived in and owned the property for 30 years. They may be looking to sell due to relocation, downsizing, or other reasons. ***
Is Absentee An absentee is an owner who doesn’t live in the property but lives in the same state as the property. They often don’t have emotional attachment to a property and may be looking to sell. ***
Is Absentee Out of State An absentee out of state is an owner who doesn’t live in the property or in the same state as the property. They often don’t have emotional attachment to the property and may be looking to sell. ***
Estimated Loan to Value Loan-to-value (LTV) is the mortgage compared to the property value. The ratio is used to decide a down-payment and if a lender will lend to a borrower. |
