If you are house hunting, you may want to consider buying a foreclosed home, also called a real estate owned (REO) property. An REO property is owned by the lender as a result of the previous owner defaulting on the loan. This is also known as a foreclosure property or a bank-owned property. Foreclosure in Lago Vista and Austin area have a few options for Buyers.
Lago Vista Foreclosure’s are becoming hard to find with less owner defaults and our Lago Vista Real Estate market and Austin-area home sales hitting a six-year high for December 2012. What is the definition of foreclosure and Investor, example below. If you are an investor looking for foreclosures contact us for more properties and let us help.
Foreclosure
The legal process by which an owner's right to a property is terminated, usually due to default. Typically involves a forced sale of the property at public auction, with the proceeds being applied to the mortgage debt.
Investor
An individual who commits money to investment products with the expectation of financial return. Generally, the primary concern of an investor is to minimize risk while maximizing return, as opposed to a speculator, who is willing to accept a higher level of risk in the hopes of collecting higher-than-average profits.
Click on this link to find more foreclosed properties in Austin MLS:
Lago Vista Foreclosure:
If you or someone you know is considering a move to the Austin area I would welcome the opportunity to consult with you or them about the many real estate options found in our great city and surrounding areas.
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