Foreclosures

Something about Foreclosures…

Foreclosures are best defined as being ‘Bank Owned’. When the bank has completed the Foreclosure Process and now owns the property, it is known as Real Estate Owned (REO) by the bank. Keep in mind, these properties are NOT Short Sales where the seller is selling the property in hopes of the bank to accept less than what they are owed. These properties have already gone through the legal foreclosure and are readily available to be purchased. As such, they are considered to be in a Distressed State and normally will be sold AS-IS. Nonetheless, Distressed Properties that are sold as a REO can be a fantastic way in getting a great deal on a home. Depending where the average person looks for these types of homes dictates the probability finding these deals in the quickest time possible.

On this page, the criteria has been set to show those properties that are ‘Bank Owned’ -and it sorts the most recent listings first under the ‘Results’ tab. Ultimately, the best way to be notified on new listings is to ‘Register’ and set-up a criteria on exactly what areas, size of homes, year built, etc… of what you would like to see. You have probably heard the common saying in Real Estate…’Time is of the Essence’ -this especially holds true with ‘Foreclosures’ as the best deals usually go pretty quick. Good luck and please let us know if you have any questions or would like to schedule a showing. For some, you may just want to proceed quickly in placing an offer -which we can also accommodate. We are looking forward to working with you!