In this webinar, Chris Littleton of the Atlanta franchise delves into his team’s experiences with REO properties (real estate owned by the banks) vs. short sales. Short sales are potential sales by the owner of a property whereby the sale price will not cover the amount owed on that property. In effect, the seller (and buyer) is asking the lender to "short" the loan - i.e. accept less than the amount owed on the loan as full payment. REO properties are those properties already foreclosed by the bank and now owned outright by the same.
Chris explains the differences between the two, how they approach both, and why one is generally easier to work through to a successful purchase than the other.
See Chris and Donna Littleton's presentation at - REOs vs. Short Sales.
Recent Comments