Short Sales

Distressed Property Defined

  1. Property that is or will soon be in some stage of the foreclosure process.
  2. Property that is in poor physical condition.
  3. Property owned by a person(s) who is or are experiencing financial instability.
  4. Property on which the mortgages total an amount higher than the current value and an owner must sell.

There are many reasons why a property would fall into one of these categories. It is important for you to understand them. Read Understanding Causes of Distress to learn a few examples.

Need further explanation? Please call us 212-941-2551 or by email at plgroup@corcoran.com.