Looking specifically for short sales or foreclosures? We can help!
A foreclosure is a home owned by a lender due to the previous owner failing to pay mortgage. Foreclosures are also known as real estate owned properties (REO) or bank-owned properties.
A short sale happens when the lender and borrower decide to sell a property for less than it’s worth to avoid the borrower having to default on their loan.
In short, yes. Purchasing a foreclosed home takes a lot of paperwork and a lot of time--sometimes over a year. Potential buyers will have to get approval from banks and investors. However, with all this said, you can find a great value in purchasing a foreclosed home or short sale.