Foreclosure Homes in Navarre Florida

 

Homes in Foreclosure and Bank Owned In Navarre Fl

 
bankowned

 

Short sale, foreclosure, bank owned?

What does it all mean?

With all the media coverage on bank owned, foreclosed and short sale homes, real estate can seem like a scary business. But what exactly do all those varying degrees of scary mean? Each type of property sale and transfer of ownership is based on different circumstances and means different things for the lender, the seller and the buyer.

The short sale of a property is intended to prevent foreclosure and bank ownership in the first place. A short sale occurs because the amount the owner owes on the house outweighs the house's value. This can happen for several reasons. If the owner has defaulted on the loan and can no longer make payments, he may wish to make a short sale to avoid foreclosure. Sometimes short sales occur even though the owner is current on his payments; if the home has decreased in value, he may still owe more for the home than it's currently worth. The owner has to work with the lender, and the lender must approve the short sale, because it's the lender who will be losing money. Sometimes, lenders will negotiate to reduce the amount owed or make concessions. Other times, they will hold the owner responsible regardless.

Short sales are often priced lower than comparable sales, and buyers look to short sales for good deals. However, short sales can take months to close, because offers are all contingent on lender approval, not just seller approval. For this same reason, many short sales never close at all, because lenders want to lose the least money possible. Sometimes short sales allow lenders to lose less money than a foreclosure, however, because of the fees associated with foreclosure. Short sales are favorable to borrowers because they don't impact credit scores in the same way foreclosures do, and although they take months to close, they are usually faster and cheaper than foreclosures.

Our office handles short sales, bank owned and foreclosures in Navarre Florida.  Call me today to help you and guide you with this process.

 

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New Listings

Featured picture for the property 522860
$208,500
NAVARRE, FL
3
beds
2
baths
Listing courtesy of PELICAN REAL ESTATE & DEVELOPMENT COMPANY, INC. PARMLS
Featured picture for the property 781767
$549,000
Gulf Breeze, FL
4
beds
3
baths
Listing courtesy of Tamara L Doverspike
COLDWELL BANKER RESIDENTIAL REAL ESTATE, GULF BREEZE
NAVARRE
Featured picture for the property 781764
$282,000
Navarre, FL
4
beds
3
baths
Listing courtesy of Paula Patching
KELLER WILLIAMS REALTY WEST BRANCH
NAVARRE
Featured picture for the property 522854
$675,000
PENSACOLA BEACH, FL
4
beds
3
baths
Listing courtesy of Coldwell Banker Residential Real Estate PARMLS
Featured picture for the property 781753
$170,000
Gulf Breeze, FL
3
beds
2
baths
Listing courtesy of Leane Gonzalez
COLDWELL BANKER RESIDENTIAL REAL ESTATE, GULF BREEZE
NAVARRE
Navarre listings last updated Aug 20, 2017 1:18:pm.