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Bayshore Realty
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The Bayshore Team is constantly scouring the market to find the best buys for our customers and the best buys are often REOs, foreclosures and short sales. REO stands for "Real Estate Owned." It is an acronym commonly used to describe properties that have gone completely through the foreclosure process and are now owned by the lender (also known as "Bank Owned."
Some properties are NOD (Notice of Default has been filed) They are currently in the foreclosure process and are commonly known as "foreclosures." However, they are still owned by the person being foreclosed on. That person may have the property for sale.
If the value of a property is less than the loan amount, then the property may be advertised as a "short sale," or "short pay" which means that the owner is hoping the lender will allow the property to be sold for less than is owed by the owner.The lender has to agree.
Many lenders now believe it is less expensive to allow a short sale than to complete the foreclosure process.
Here is your chance to get a piece of the Coast at a discount. Don't let the asking price fool you. Even banks will "play the game" hoping to sell for top dollar. But experience has shown that banks do not want to keep these properties long.
We are specialists at negotiating the best possible deal. Give us a call or email us. Our toll-free number is 888-401-0800. Click on the email link to email us.
Want a list for a city not shown below? Just let us know and we will email it to you or post it here.
The Bayshore Team is constantly scouring the market to find the best buys for our customers and the best buys are often REOs, foreclosures and short sales. REO stands for "Real Estate Owned." It is an acronym commonly used to describe properties that have gone completely through the foreclosure process and are now owned by the lender (also known as "Bank Owned."
Some properties are NOD (Notice of Default has been filed) They are currently in the foreclosure process and are commonly known as "foreclosures." However, they are still owned by the person being foreclosed on. That person may have the property for sale.
If the value of a property is less than the loan amount, then the property may be advertised as a "short sale," or "short pay" which means that the owner is hoping the lender will allow the property to be sold for less than is owed by the owner.The lender has to agree.
Many lenders now believe it is less expensive to allow a short sale than to complete the foreclosure process.
Here is your chance to get a piece of the Coast at a discount. Don't let the asking price fool you. Even banks will "play the game" hoping to sell for top dollar. But experience has shown that banks do not want to keep these properties long.
We are specialists at negotiating the best possible deal. Give us a call or email us. Our toll-free number is 888-401-0800. Click on the email link to email us.
Want a list for a city not shown below? Just let us know and we will email it to you or post it here.
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Updated: May 14 @ 1 AM EST |
