Orlando Short Sales - Orlando Foreclosures - Orlando Bank Owned Property

Orlando Short Sales - Orlando REOs - Orlando Foreclosures

In today's Orlando area housing market, short sales, foreclosures and bank-owned real estate (known as real estate owned or REO, for short) can offer significant savings to those home buyers who are willing to be patient and flexible to purchase a home at or below market value. Short sales is a strategy that can also assist both sellers and their lenders to recoup some or all of the mortgage payments to minimize losses and foreclosure issues.

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Attention Buyers! - Let us help you find the best deal in Orlando Foreclosures

Real estate Buyers are the ones who can most benefit from short sales, foreclosures, distressed sales and REO properties. We can help you find the property you want ata discounted price. In fact, feel free to browse our extensive real-time listings of Orlando short sales, foreclosures and REOs to view the deals available today! However, short sales are not for the light-hearted. They may take sometimes months, and there is never a guarantee that the Lender will approve it. Buyers must be patient, and have the flexibility to wait, or even move on to another property should the Lender holding the note decide to reject the offer.

At Bahia Realty, we fully understand the process to help you take advantage of these real estate opportuntities. It is also important to us that you, as a potential real estate Buyer or Seller, be aware of the process as well, so that you are an informed consumer.

Orlando Short Sale, Forclosure or REO — Let Bahia Help You Determine the Best Solution

As you can see in the chart below, being a real estate Seller in the situation of needing a short sale, foreclosure or REO to eliminate mortgage debt is, unfortunately, not a positive one. That's why you are encouraged to do what you can to continue payments on your mortgage, even if it means working out an arrangement with your current Lender.

	Short Sale	Foreclosure	REO
Definition	A property that is in pre-foreclosure or foreclosure but not yet up for auction; the Seller or Seller's Agent will handle the sale. The Lender agrees to accept less than the total amount due on a mortgage because there is not enough equity to sell and pay all the costs when a home is sold.	A property where the home owner has stopped making payments on the mortgage, and the property is up for auction by the Lender.	A home that has gone through the foreclosure auction and because there were no bids, becomes a bank-owned property or bank foreclosure.
Benefits for Seller	Helps the Seller get out from under mortgage debt. However, Seller's credit rating will be negatively affected because the property is in a foreclosure status.	No benefit — the Seller may lose any equity in the property regardless of when it's sold. Seller's credit rating will also be negatively affected.	No benefit — the Seller may lose any equity in the property regardless of when it's sold. Seller's credit rating will also be negatively affected.
Benefits for Buyer	Offers hue potential discounts in buying real estate, sometimes way below market value. Also may allow the Buyer to discount the loan from the Lender.	Offers potentially huge discounts in buying real estate, usually below market value.	Offers potentially huge discounts in buying real estate. However, be aware that Lenders will want to sell for the highest price possible to recover some or all of the equity and selling fees.
Benefits for Lender	Lender receives funds to avoid a "hit" on their profits. Some money is better than nothing at all.	Lender receives funds to avoid a "hit" on their profits. Some money is better than nothing at all.	Lender avoids owning real estate and their carrying costs on their books.

With our in-depth knowledge and expertise in Orlando short sales, foreclosures and REOs, we can significantly increase the chances of getting the deal done. Prior to making the offer, we will talk with the Seller or Listing Agent to learn if the listing price has been already approved with the bank and serve as your intermediary with other involved parties. Let Bahia help you create a win-win situation now!

Orlando Short Sales - Orlando REOs - Orlando Foreclosures