Foreclosure
REO
Bank-Owned
They all mean the same thing - distressed property - and it could mean a good deal for today's savvy buyer. This past week, 2 buyers took advantage of the opportunity to purchase one of these deals and closed on bank-owned properties in Bel Air, MD...
250 Temple Dr. - listed for $199,900, sold for 100% of list price ($199,900) - is located in Temple Hills off of Wheel and Laurel Bush Rds.
built in 1988, this 3 bedroom, 2 full/2 half bath, 1560 sqft, end-of-group townhome was on the market for 78 days before being scooped up on Friday, July 30th. $7000 from the bank helped the buyer close on this townhome.
Second on the hit parade is 904H Martell Ct - a 20 year-old condo in Brentwood that sold for 93% of list price (139K vs. 149.8K).
with 2 bedrooms, 2 full baths, a fireplace, and 1211 sq ft of living space, this one settled on Friday as well. Additionally, the bank contributed $5911 towards the buyer's closing costs after 116 days on the market.
BTW, Brentwood is off of Vale Rd. and close to the new Red Pump elementary school that's currently being built.
It's true, you can find some kewl deals in Bel Air. I'm a real estate agent in Bel Air (it says so on my business card) and I can help you navigate the sometimes rocky course of distressed properties in and around town. Call me.
Lanette in Bel Air
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