Browns Summit Foreclosures for Sale
A Few Things to Know About the Difference Between Foreclosure, Bank-Owned Property & Short Sales
- Bank-Owned Property (REO) - Homes for sale that have gone through the foreclosure process and owned by the financial institution.
- Foreclosure - Homes that are up for auction at the foreclosure proceedings - truly 100% as-is and subject to liens & tenants!
- Short Sale (pre-forclosure) - Homes that may or may not be owner-occupied and the current owner is trying to negotiate a sale with the lender taking the loss to avoid the foreclosure proceeding.