Park City Real Estate and Foreclosures, Bank Owned and Short Sales
Properties that are in distress usually are referred to as Foreclosures. Foreclosure usually happens for a number of different reasons. Few home owners choose to go into foreclosure voluntarily. It is often a result of one of the following:
- Loss of Job, laid-off, fired or just quit.
- Unable to work due to medical condition.
- Job transfer
- High debt, unable to make mortgage payments
Foreclosure property can be distributed to the public in a number of different ways. The first step usually takes place in the form of a Short Sale. The seller tries to negotiate a lower payoff to try and avoid credit report problems. When the seller is unable to negotiate a short sale, next the bank would take the property to public auction. If the bank is unable to sell the property at auction then they would try and sell the property to the public in the form of a Bank Owned sale.
Check out the IDX Websites with Homes for Sale in the following locations:
Homes available for Sale in Salt Lake County
Herriman Homes for Sale
Riverton Home for Sale
Sandy Homes for Sale
South Jordan Homes for Sale
Homes available for Sale in Summit County
Homes available for Sale in Weber County
Homes available for Sale in Davis County