In today’s market there are many questions regarding what all these terms mean.  It is not as hard as it seems.  A foreclosure has simply been taken back by the bank and the process is done which allows the bank to sell the property.  The bank has put a fair market value on the property and it is ready to be sold.  In many cases we have seen these properties sell for full price and even over, this is due to the increase in awareness for our fast moving market.  Being experienced in the market, we will take you through the process of buying a foreclosure with your eyes wide open.  We help supply you with as much information as we can to help you make a logical decision regarding your purchase.  However, in this market with sales being up over 100 percent, the deals are great, but negotiating prices down to much is likely to cause you to loose out on a home.  Sometimes the gamble is worth it and some times it is not.  We are very experienced in the market and can help you understand the value of the home you are purchasing.  In some cases, offering over the price listed is necessary.  We do assure you, that we are looking out for your best interest and we will help you offer what ever offer you desire, within reason.  We love to help people find homes and stay within their budget so feel free to communicate what your budget is so we can find you the best home to fit your needs.  

Short Sales take place before foreclosures.  A Short Sale is when a buyer tries to sell his or her home before it goes into Foreclosure.  It is important to understand the process of short sales because they are much more difficult to acquire in our market than a foreclosure.  In the case of a short sale, the realtor who represents the buyer has to submit the properties offer to the bank and then we wait!  It often takes 4 to 8 weeks to get an initial response.  I have seen it take much longer!  Since it is potentially a new offer to the bank, it has many channels to go through before final approvals happen.  Often buyers get impatient or the bank decides it is best to foreclose on this property instead. 

This brings me to my next point which is Bank Approved Short Sales.  We have had great success with selling these to our clients.  The lender, in this case, has accepted a similar offer at some point.  This opens the door for us to know the general price range the bank is looking for.  

In any of the cases above, we are experienced and have the knowledge to make this a smoothe transaction for you.  E-mail or call us to arrange showing times.  If you would like to have us set up a client portal for the MLS for you, just click on portal, send us a quick note, tell us what you are looking for and we will send you a link.  It is easy and fun!  See the foreclosures the same day we do by having your own access!  Call us if you want a hand picked list of foreclosures.  This list is for our special client network so let us know if you want to be a part of it!