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Short Sales

Distressed Property Defined

 

  • Property that is or will soon be in some stage of the foreclosure process.

  • Property that is in poor physical condition.

  • Property owned by a person(s) who is or are experiencing financial instability.

  • 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 212-612-9681 or by email at PatrickLillyTeam@CoreNYC.com.

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