Foreclosure and Short Sale

To provide a fuller picture of the dynamics of the current market environment, I am providing reports that capture Foreclosure and Short Sales properties.

A “Foreclosure” is a property that is owned or controlled by a bank or other lien holder. These include properties that have been foreclosed and properties where an owner has surrendered title to a bank or other lien holder in lieu of foreclosure (often in order that both the lien holder and the owner avoid foreclosure proceedings and its consequent additional cost).

A “Short Sale” is a transaction in which: (1) the sale of a property is proposed, and (2) the proposed sales price is insufficient to satisfy all the liens on that property, and (3) the seller does not provide sufficient additional funds in excess of the proposed sales price to satisfy all of the liens on the property, and (4) the lien holders agree to allow the sale to proceed by accepting less than the full amount of their liens. In some cases, a lien holder may hold the seller liable for a shortfall in the satisfaction of his lien (a “deficiency”). Although Eldon Blust or Allen Tate Realtors® may represent either a Seller or a Buyer during the course of a Short Sale, neither Eldon Blust nor Allen Tate Realtors markets itself as a provider of Mortgage Assistance Relief Services (“MARS”) as defined by the Federal Trade Commission. Please see the Consumer-Specific Commercial Communications MARS Disclosure on our Notices page.

The reporting of “Foreclosure” and “Short Sale” properties is made available on a “best efforts” basis. The information is deemed reliable, but not guaranteed. The information is obtained from the Western Upstate Multiple Listing Service as of the current date.

Foreclosure and Short Sale Homes

Foreclosure and Short Sale Lots