Home > Blogs > Lani Sanethong > Lani Sanethong's (lanis) Blog

New Milford CT Short Sale and Foreclosed Properties

By Lani Sanethong

Real Estate Agent with Virtual Homes, Inc.

December 01, 2009 07:15 AM

New Milford, Connecticut Real Estate - Foreclosed and Bank Owned

New Milford CT Foreclosures Purchasing a home at a New Milford CT foreclosure auction has many risks to a potential buyer and in most cases the bank will bid and take possession of the property at auction. The property is then referred to as bank owned, REO (real estate owned) or foreclosed property.

To search the CT MLS listings visit New Milford CT MLS listings.

A home owner may attempt a "short sale" whereby the bank agrees to accept less than the mortgage balance based on the owner's hardship and financial status. Obtaining approval can be a long and difficult process. Additionally, there is no assurance that the lender will accept an offer at or above the listed price.

Bank-owned and short sale listings are often marketed with a real estate agent and placed in the Connecticut Multiple Listing Service (to ensure full market exposure).

Register at New Milford CT foreclosures (bank-owned) listings and short sale opportunities. We will contact you and provide:

A list of existing real estate foreclosure (bank-owned) and short sale listings in New Milford.
Email alerts on NEW foreclosure (bank-owned) and short sale listings in the CT MLS.
Address and mapping information.