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Park City Utah Real Estate and the Foreclosure Process
 
Park City Utah Real Estate and the Foreclosure Process
Is a distressed Property right for you?
Distressed sales are a sad fact of the Real Estate market. While no one wants to see a homeowner lose their home, these properties also present unique opportunities for buyers. To determine whether you are a candidate for such a purchase, it's important to learn all you can about distressed properties - and to work with qualified buyer's representative who can guide you through each step of these complex, non-traditional transactions.
Foreclosure is a process, with buying opportunities at each stage:
Pre-Foreclosure
A period of time that begins with the initial mortgage default and ends when the distressed property is sold
Foreclosure Sale
When the property is auctioned to the highest bidder, someone who also meets the terms of the sale.
REO (Real Estate Owned)
If a foreclosure sale is not successful, property ownership is transferred to the lender
What is a Short Sale?
This is a situation in which a seller owes more on their loan than a sale of the property will produce, and they are unable or unwilling to make up the difference at closing. The seller may ... more

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