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What's the Difference... Bank Owned, Short Sale or Foreclosure
By Ken Cash,  Broker,  CRS        Coldwell Banker Incline Village Realty  Lake Tahoe CA & NV 
WHATS THE DIFFERENCE?  Bank Owned, Short Sale or Foreclosure...  
In my daily business, receiving calls, making calls to my peers, to you and many others and what I've discovered is that most people both inside the industry and outside don't understand the differences between them.
What I have learned and applied to my business I hope will give you an idea about how to go about buying a Lake Tahoe foreclosure, short sale or bank owned property.  There are some great deals to be had in Incline Village, but buying them can be very complicated.  I urge you to call me to help guide you through this unusual and what I think is a rare opportunity.
 Bank Owned:  When a home goes to the Trustee Sale and is not sold there on the court house steps (yes they actually bid on them right there in Reno on the court house steps), the property goes back to the bank (or mortgage lender) as the case may be, and becomes an REO.  That stands for Real Estate Owned or better known as Bank Owned.  They are also referred to ... more

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