The Brewer team helps Nashville real estate buyers with all types of purchases. one of the most requested is Foreclosures and short sales. It would be in the best interest of the buyer to understand that these are not the same thing, and even though either can ;ead to the purchase of a Nashville home with immediate equity, some risk is involved that would not be present in a normal transaction. It helps to have an experienced team to work with you in any real estate transaction. Here are the different types of foreclosures and bank related real estate acquisitions
HUD Properties are owned by the Housing and Urban Department when the home was sold.
REO Properties are homes that are ownd by a Bank/Investor which they obtained thru the foreclosure process.
Short Sales are definded as a sale where the debt owing against a property combined with the costs associated with the sale exceed the property's market value. In a loan default situation (pre-foreclosure) , lender(s) may be willing to agree to allow the property to be sold for less than the loan amount and/or accept less than (or "short") the amount owed, and may or many not accept the net proceeds of sale as payment in full of the debt. Short Sales Properties are owned by the home owner at the time of the sale.
Most homeowners like knowing what kind of real estate activity is going on in their neighborhood. Larry Brewer with Benchmark Realty has some unique tools that provide very detailed information regarding what home buyers are looking for. If you would like statistics regarding what kind of Internet exposure and buyer traffic your home would have if you listed it with Larry Brewer and Benchmark Realty, give him a call at 615-512-7853. The Neighborhood Activity Report also shows you what new listings have been added in your area and what listings have experienced status and price changes. Call Larry today at 615-512-7853 to see what your home's value is in todays Nashville Real Estate Market.