Here are the latest real estate listings for foreclosures & short sales in the Highlands / Cashiers, NC area.
The Evelyn Owens Team of Keller Williams Realty is here to assist you every step of the way in finding great real estate values in the foreclosure / short sale market in the Highalnds / Cashiers, NC area. So what exactly are these two types of property?
WHAT IS A FORECLOSURE?
A foreclosure and a short sale are not the same. Foreclosure is a legal process that a lender initiates to gain title to a home that was used as collateral for the mortgage loan that is now in default. A foreclosure terminates all the homeowner’s rights covered by a mortgage, and makes the lender the absolute owner of the property. The process starts when the homeowner fails to make payments of the money due on the mortgage at the specified time and the lender files suit.
WHAT IS A SHORT SALE?
A short sale is when a property is being sold for less than it is worth. The lender must agree to the short sale and a process must be followed. The homeowner must be in a distressed state, which means they are behind in payments and the property is usually facing foreclosure.
If the lender approves the short sale, a buyer is found and a set price is agreed upon, the sales process would then continue as a normal sale would.
The help of a knowledgeable real estate expert, such as Evelyn Owens and her team of professionals at Keller Williams Real Estate is invaluable while navigating the foreclosure & short sale real estate market.
If you find a foreclosure or short sale in the Highlands / Cashiers, NC area you're interested in, call us today toll free at 844-MTN-TEAM or 844-686-8326 to speak with me or another of Evelyn Owens Team real estate specialists at Keller Williams.