What is a Short Sale?
A short sale is used to describe the sale of a home in which the owner owes the bank more than the home is worth.  The bank agrees to allow the home to be sold for less that what it owed.

Frequently Asked Questions for Buyers:

How do you know that the bank will accept our offer?
We really don't know with 100% certainty that the bank will accept your offer.  What we do know, is that banks are typically willing to accept an offer that is within 85-90% of current market value. We price all of our listings very appropriately so if your offer is at or very near market value, we feel confident that it is possible to get the Short sale approved, we'll get it done.  We are experienced Short Sale Negotiators.

Is there a Foreclosure sale date scheduled?
Foreclosure sale date information is public information and can be found by doing a small amount of research online. We get several Foreclosure sale dates extended every month so please don't ever let a sale date scare you away from one of our listings.  Banks will extend a sale date numerous times.

What is a REO Property?
REO is an acronym for Real Estate Owned property. This means that it is a home that has already been foreclosed upon and is owned by the bank. Each bank will handle the sale of the property differently. Certain banks will require a buyer to be pre-qualified with that bank prior to reviewing an offer. Countrywide Home Loans is an example of one of those lenders.  Therefore, a potential buyer must submit a Loan Status Report provided by a Countrywide lender even though they might already be pre-qualified with a different lender of their choice.