Short Sales/REOs
A short sale is a property that is being sold for less than is owed on the property. This often occurs when the borrower cannot afford to pay the mortgage loan on the property and the lender decides that selling the property at a moderate loss is better than going through the foreclosure process. A short sale is often not a “short” process and it can take up to months to get a response from the bank or lender. Short sales are often a better route for sellers so they do not have to go through the foreclosure process and a short sale is not as bad on their credit.
A real estate owned (REO) property is one that has been through the foreclosure process and is in possession of the bank or lender. A property at this stage has usually gone unsuccessfully to auction and then comes back on the market as a bank-owned property. The process of purchasing a REO property is typically much quicker and easier than purchasing a short sale property.
Click on the links below to see current short sales and/or REOs in each area.
Truckee
Donner Lake Short Sales/REOs
Donner Summit Short Sales/REOs
Lahontan Short Sales/REOs
Tahoe Donner Short Sales/REOs
Truckee Short Sales
Truckee REOs
Tahoe
Alpine Meadows Short Sales/REOs
North Lake Tahoe Short Sales/REOs
Northstar Short Sales/REOs
Tahoe City Short Sales/REOs
Squaw Valley Short Sales/REOs
West Shore Lake Tahoe Short Sales/REOs
Incline Village
Incline Village Short Sales
Incline Village REOs
