East Lake Woodlands Foreclosure Homes, Condos, including short sales, bank owned property
Check back frequently because as the market changes homes come on and off the MLS quickly. We will do the necessary investigation to find out what is owed on the home, the condition, and see if there are any barriers. It’s our job to ensure we have all the pertinent information before making an offer and that your best interests are protected. Many times foreclosures and bank owned property are good deals but certainly not always.
Foreclosure is the process by which a bank or other secured creditor takes back ownership of a piece of real property due to owner’s failure to pay their mortgage. The foreclosure process begins soon after the property owner stops making mortgage payments. This can take a few months or more and during that time the property owner may try to sell the home at a reduced price hoping that the lender will accept a less amount (short sale) than what is due on the mortgage. Once the bank repossesses the property (bank owned), it is offered for sale and they will typically start the selling price at what is left on the loan balance.
Snapshot of Listings