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Foreclosures & Short Sales
What is a Short Sale?
A property sale negotiated with a mortgage company in which a lender takes less than the total amount due; A sale of a security that one does not own, delivery obligation met by borrowing the security from another owner
What is a Foreclosure?
A Foreclosure occurs when a lender pursues its lien on a property. Foreclosure action generally begins after 90 days of nonpayment. Parties are able to bid on the property as part of the foreclosure sale, and the title will be transferred to the successful bidder, subject to any applicable redemption period.
Who should be looking at Short Sales and Foreclosures?
In today's Real Estate market Short Sales and Foreclosures are in many cases a great opportunity to purchase a property valued much higher than the purchase price. If you are considering a Short Sale or Foreclosure keep in mind that the process of purchasing such a property can take many months in some cases. Each transaction length varies upon the property, the buyer and the Bank involved. If you need to purchase a home / property within 30 to 60 days a Short Sale or Foreclosure often is not a good choice.
Feel Free to view Current Short Sale & Foreclosure Listings by clicking the links Below.
Short Sales & Foreclosures by City / Town (High to Low Pricing)
