Foreclosures and Short Sales are for sale in Steamboat Springs, and can be a great value. With Steamboat foreclosures, the property is owned by the bank. An asset manager could be managing the sale, but there are only two parties involved: the buyer and the bank/seller.
Short sales take place when the seller owes more on their home than the home is worth. First you contract with the seller to purchase their home like you would in a traditional sale. The seller then seeks approval from the bank to allow the home to be sold for less than the mortgage lenders and lien holders actually owe as a short sale contingency. Only after the bank approves the transaction does the property close.
Steamboat short sales can be a terrific value but they aren’t as straight forward as a regular sale. If you would like more information about how they work, call 970-819-6372.