Keller Texas Short Sales Listings
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On this page you will find all the SHORT SALE listings in Keller Tx. To purchase a short sale you will have to be increditably patient with everyone involved in the purchase ie. Realtors, Banks, Title Companies, Lenders. Purchasing a short sale takes time, understanding of the bank polices and willingness to go through the must unpredictable transaction know to the real estate industry. The best way to purchase a short sale is to work with a Realtor® like David Pannell that has completed several succesfully and knows how to speak with the banks. Be prepared to possibly get a great deal, but also understand it will take months to own a house going through a Short Sale process.
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Great Potential With Open Floor Plan, Fireplace, Split Bedrooms, Needs Some Cosmetic Tlc. Buyer To Verify...All Listings $100,000 - $200,000 Great Potential With Open Floor Plan, Fireplace, Split...
Are you looking to buy a Foreclosured home in Keller or a Short Sale | Contact Us
Content Provided by WikiPedia: In a short sale, the bank or mortgage lender agrees to discount a loan balance because of an economic or financial hardship on the part of the borrower. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. Neither side is "doing the other a favor;" a short sale is simply the most economical solution to a problem. Banks will incur a smaller financial loss than would result from foreclosure or continued non-payment. Borrowers are able to mitigate damage to their credit history, and partially control the debt. A short sale is typically faster and less expensive than a foreclosure. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.
Lenders often have loss mitigation departments that evaluate potential short sale transactions. The majority have pre-determined criteria for such transactions, but they may be open to offers, and their willingness varies. A bank will typically determine the amount of equity (or lack thereof), by determining the probable selling price from an appraisal, Broker Price Opinion (abbreviated BPO), or Broker Opinion of Value (abbreviated BOV).
Lenders may accept short sale offers or requests for short sales even if a Notice of Default has not been issued or recorded with the locality where the property is located. Given the unprecedented and overwhelming number of losses that mortgage lenders have suffered from mortgage failures that in part triggered the financial crisis of 2007-2010, they are now more willing to accept short sales than ever before. For "under-water" borrowers who owe more on their mortgage than their property is worth and are having trouble selling, this presents an opportunity for them to avoid foreclosure as a result.
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Listing information last updated on May 19th, 2012 at 7:00am.