Port Orange Foreclosures
Search for a foreclosure property in Port Orange, Florida, below. Foreclosure homes attract lots of interest and normally sell fast. Contact us today for detail information about these foreclosed Port Orange listings.
REOs & Bank Owned properties in Port Orange, Florida.
29 Search Results Found. Showing Results 0 - 5.
Total Realty Corp
Adams Cameron & Co. Realtors
Exit Realty Of Daytona
Adams Cameron & Co. Realtors
Coldwell Banker Property Showcase
The data relating to real estate for sale on this web site comes in part from a cooperative data exchange program of Daytona Beach Area Association of REALTORS® Multiple Listing Service. Real estate listings held by brokerage firms other than Gaff’s Realty Co. are marked with the listing broker’s logo or name and detailed information about such listings includes the name of the listing brokers. Data provided is deemed reliable but is not guaranteed.
One "hot topic" in real estate today is short sale. What some buyers don't realize is that a short sale is much different than a foreclosed or bank owned property. Let's start by briefly discussing foreclosed properties. A foreclosed property is owned by the bank and referred to as a REO property. This property has gone to auction and is now listed for sale. Offers are submitted to the bank and response times are normally pretty fast. Short sales differ in many ways.
Port Orange Short Sales - Lender Approval
Potential short sale properties are still owned by the seller. The seller cannot afford the property and he/she tries to get the bank to accpet SHORT of what is owed to the bank. The seller may have a loan for $300,000, but the property may only have a market value of $250,000. Once the seller gets an offer, it is submitted to the bank's asset managers for review. Banks will usually request a BPO (brokers price opinion) or an appraisal to help them establish an acceptable sale price.
If you need a property within 30 - 45 days, a short sale is not going to be your best option. A short sale transaction can take many months to be executed.
If you would like to discuss short sales, foreclosures and the buying process, contact Kevin Kling at 386-527-8577.
*Disclaimer: Pre-foreclosures and potential short sales require third party (bank) approval.