Welcome to the Indra-Group.com Blog

2010-11-22 15:02:20
Short Sale vs. Bank-owned REO?

What's the difference between a Short Sale vs. a Bank-Owned REO?

A Short Sale is the sale of a home in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan(s). The process starts when a seller who is behind on their payments attempts to sell their home before the bank takes the property through foreclosure. To do this, the Real Estate agent negotiates with the bank to agree to sell the home for less than what is owned on the property.

REO stand for 'Real Estate Owned', and is another way to refer to a 'bank owned' property. This property that the bank has taken back through foreclosure and failed to sell at the trustee sale. These properties area also known as Bank 'Repos.'

With a Short Sale, the homeowner is still technincally the owner of the property and must agree to sale terms in addition to the bank approving the deal. In a short sale, the seller is typically living in the property and will issue all standard transfer disclosure statements.

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.

To dicuss the difference between a short sale or REO bank owned property, please contact us!

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: 

Oceanside foreclosures

Carlsbad foreclosures

Encinitas foreclosures

Cardiff foreclosures

Rancho Santa Fe foreclosures

La Jolla foreclosures

Blog Archive
2018-10-30 13:18:18
How is the Market in Fairbanks Ranch, Rancho Santa Fe?

2018-10-04 16:10:10
Wow! The Covenant in Rancho Santa Fe is back on the Buyers Radar!

2018-10-04 15:26:48
Fire Mountain Oceanside might just be the best performing neighborhood in San Diego County!

2018-06-02 12:53:34
Meet the INDRA Real Estate Group

2018-04-23 15:33:03
Fire Mountain Home Oceanside

2018-03-19 14:18:02
How did Real Estate Market Prices Develop since 2011 in San Diego?

2018-03-13 17:33:12
Home for sale in Heritage Community Poway

2018-03-13 16:40:22
Sunset Hills Oceanside California

2018-02-27 13:44:27
New to Market Windward Community Oceanside

2018-02-18 08:22:36
Tax Reform Facts from C.A.R - Important Links and Things to Know in Southern California

2018-02-18 08:12:35
California Sales to Foreign Buyers

2018-01-09 15:11:07
Top 10 Restaurants in Oceanside

2018-01-09 14:34:11
HomeDex December 2017 by Kathe Lang and the INDRA Group Rancho Santa Fe

2018-01-08 15:07:20
HomeDex 2017 San Diego Housing Market

2017-12-01 14:40:34
Coastal Community of Capo Beach - in Dana Point

2017-11-06 18:35:28
BLOG - 38 Things Realtors Do When You’re Not Looking

2017-10-26 08:47:30

2017-10-21 09:34:30
Is Renting Out Your Home The Best Option?

2017-10-17 12:59:01
10 Reasons to Hire The INDRA Real Estate Group

2017-09-06 15:28:17
GEEK-OUT on San Diego Monthly Housing Statistics

2017-08-29 13:25:30

2017-08-02 10:36:10
Windward Mist New Construction in Oceanside, CA

2017-04-13 17:20:14
Sunset Event at 35501 Camino Capistrano | Dana Poi

2017-03-23 13:49:58
SUCCESSFUL Selling in San Diego!

2017-03-07 10:52:04
MARCH - Buying Season with The INDRA Group

Click here to see ALL articles.

Comment on this Article

Your Name:
Your Email:
Verify:  Please enter the numbers shown to help eliminate spam.