Foreclosures & Short sales: What are they?
Hiring a real estate professional can be helpful to real estate investors. Is a specialist always needed? Is hiring a real estate agent the only way to ensure that you’re getting a good deal? In our experience, the answer is always, yes.
Ben Bluemle, Broker & Owner of Seaport Real Estate Group is known as the Foreclosure and Short Sale Expert of the Low Country. Ben is a real estate professional that has expansive experience in foreclosure deals. This includes everything from helping distressed homeowners restructure their loans to assisting investors with the purchase of a foreclosed property and also managing and marketing Bank Owned Foreclosures for sale.
So what is a short sale? What is a foreclosure?
A short sale is a real estate transaction where the owner’s lender agrees to accept a purchase offer from a new buyer, short of what is owed by the original owner. This could be great for you, the buyer, but it could take a long time to move into your home.
Foreclosure is the legal process by which a lender takes control of a property, evicts the homeowner and sells the home after a homeowner is unable to make full principal and interest payments on his or her mortgage, as stipulated in the mortgage contract.
Both of these processes can be stressful, Seaport Real Estate is here to help and answer any questions you may have about Investing, Foreclosure, and Short Sales.