What Is An REO vs Short Sale?

Here's something you might be wondering: What's the difference between an REO property and a short sale?
 An REO property is one that has already gone through foreclosure and is currently owned by the bank, which is trying to sell it to a buyer.
 A short sale is a real estate transaction that takes place when an owner owes more on the mortgage than the house is currently worth and the bank agrees to a sale for less than the full mortgage balance in order to avoid foreclosure. A property involved in a short sale is not bank-owned.
 The number of short sale transactions has increased in recent years, and you're likely to run into homes like this on the market as you view properties. As with REOs, short sales can be complicated.

 
TIP
Despite what you may hear on TV, buying foreclosures is not a get-rich-quick scenario. REOs can offer a way to buy property at below-market prices, but the process is different than an average home sale.

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Aaron Jones

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Greg Harvey

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Omaha Beach

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Real Estate and MLS Homes For Sale in West Lake Okoboji

Playful Cupcaketions

Playful Cupcaketions in Spirit Lake

Playful Cupcaketions does an incredible job making cakes, cupcakes, cake pops, and cookies. She really goes above and beyond to make your custom cake creations come to life. We've used her multiple times for our son's birthday, and cake smash cakes, and they've never been short of amazing. We've tasted her delicious cakes at weddings as well, and they're always as beautiful as they taste. We trust Playful Cupcaketions with all of our cake needs.

Real Estate and MLS Homes For Sale in Spirit Lake

Winther Stave & Co

Winther Stave & Co in Milford

At Winther, Stave & Co., LLP we use a team approach. You have a team of accounting professionals at your disposal, not just one person. With specialists in many different areas, we can draw on that breadth of knowledge and experience to help with services ranging from taxes, to payroll, to wealth preservation.

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