Bank Owned Properties in the Prelisting Stage As of March 2, 2012
The Prelisting Stage is where we are waiting for the banks to do any repairs, paperwork, and their own due deligence before the homes are listed on the market for the general public to buy it. The largest supplier of bank owned homes is FannieMae, followed by FreddieMac and Bank of America, because of their aquisition of Countrywide."Bank Owned", "REOs"and "Foreclosures" are all synonymous. They are not to be confused however with "Short Sale" where the homeowner still owns the house, but is selling it for less than they owe the bank for their mortgage and therefore needs their mortgage holder's approval before selling the home. As a result the buyer is negotiating twice instead of just once and therefore prolonging the time it takes to buy the house.
The Prelisting Stage is where we are waiting for the banks to do any repairs, paperwork, and their own due deligence before the homes are listed on the market for the general public to buy it. The largest supplier of bank owned homes is FannieMae, followed by FreddieMac and Bank of America, because of their aquisition of Countrywide."Bank Owned", "REOs"and "Foreclosures" are all synonymous. They are not to be confused however with "Short Sale" where the homeowner still owns the house, but is selling it for less than they owe the bank for their mortgage and therefore needs their mortgage holder's approval before selling the home. As a result the buyer is negotiating twice instead of just once and therefore prolonging the time it takes to buy the house.
5153 Lenox Drive,
San Diego, CA 92114
6244-6246 Wunderlin
Avenue, San Diego, CA 92114
8104 Roy Street,
Lemon Grove, CA 91945
725 Brookstone Road,
#101, Chula Vista, CA 91913
10305 San Carlos
Court, Spring Valley, CA 91978
820 Camino Del Sol,
Chula Vista, CA 91910
8960 Ildica Street,
Spring Valley, CA 91977
4427 Bomar Drive, La
Mesa, CA 91942
4747 70th Street, La
Mesa, CA 91942
610 Claydelle
Avenue, El Cajon, CA 92020
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