Short Sale vs. Bank-owned REO?
What's the difference between a Short Sale vs. a Bank-Owned REO?
Short Sales take much longer than REO to obtain an approval from the lender and to complete the escrow.With a Bank Owned REO, the bank is the owner and makes all decisions regarding the sale. They typically sell the property 'as is' and with minimal disclosures. REO properties are vacant and once a deal is agreed to, the sale take place quickly.
This article was provided by our affliate title company, California Title
Interested in finding REOS, foreclosures, and banked owned property in North County SD? The foreclosure inventory has dried up, but every once in awhile one trickles on the market. Here are link to each area, you may seach each area to find foreclosures here:
Rancho Santa Fe foreclosures
La Jolla foreclosures
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