Homeowners that are behind on their payments have several options from their banks and also federal programs to assist them with staying in their homes. Some owners opt for a short sale, which is a case when the lender allows the owner to sell the property for less than what is owed. Compared to foreclosures, many short sale properties are still occupied and maintained by the property owners and in many cases, have not been sitting vacant and is current on most general maintenance.
Buyers looking to purchase in the current market are flocking to distressed properties and taking advantage of additional savings compared to full retail listed properties. Sign-up for our short sale notifications and stay on top of the short sale market in your area.