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Currently, close to 50% of all real estate sales in the Orlando area are either bank owned or distressed properties. In Florida, the foreclosure rate is the second highest in the U.S with one in every 135 homes targeted for foreclosure. These sales are driving down home values to levels below what many currently owe on their mortgage. As Certified Short Sale Professionals and experts in the Central Florida Market, Premier Realty Partners - Short Sale and Foreclosure Division can help guide you through the process of buying or selling short sale properties. A short sale takes place when a property is sold for less than what is owed on the mortgage and the lenders who own the underlying mortgage or mortgages, accept less than the full payoff as a settlement. This allows the property to transfer to the buyer even though the lenders did not receive the full amount that they were owed. Given the vast number of available homes in this category you can find short sales in just about every community in Central Florida and at all price levels. Bank owned homes are also available in many of Central Florida?s communities. A bank owned property is one that has moved through the foreclosure process and is now back in the hands of the original lender. Lenders do not want to own these homes and need them sold quickly, making many of these properties tremendous buying opportunities. To learn more about how you can avoid foreclosure, or to view short sales and foreclosures currently available in the Central Florida Market ? visit the link below. |
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