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Bev, Home Buyer in Altamonte Springs, FL

what does resale mean?

Asked by Bev, Altamonte Springs, FL Mon Oct 6, 2008

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In simple language it is the act of selling again to a new party.
Faye Martin
0 votes Thank Flag Link Tue Oct 7, 2008
Hi Bev

I think resale means the seller is not the builder of the home. Most usually it does mean that it is not a builder selling new construction scenario - a buyer bought it sold it , another buyer bought it and so on. As real estate has different practises in different places chatting with a local realtor of your choice would confirm this.

However in the current market it could be an investor bought it and never lived in it. Or an investor bought it and rented it out. Or investor bought it and lost it back to the bank. Or a buyer bought it and lost itback to the bank. Also the builder could have built it and lost the home back to the bank, builders are going broke now as well. Technically all of these situations could be described as resale.

So other info to help you would be the year built of the home and whether a private person is the legal owner or a company or lender.

Jeannette Karis
RE/MAX of Spokane
0 votes Thank Flag Link Mon Oct 6, 2008

This could be's a home that is being sold a second time. But there are homes in today's market that are resales, that have never been lived in and are in every way "Brand new."
0 votes Thank Flag Link Mon Oct 6, 2008
Resale means it's not a new construction home. The home has been previously owned and is avaliable for sale.
0 votes Thank Flag Link Mon Oct 6, 2008
Resale means it is not a newly constructed home.
0 votes Thank Flag Link Mon Oct 6, 2008
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