Foreclosures, Short Sale, and Traditional Home Sales in Denton County

Melanie Ferguson Real Estate Podcast

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Which is the better deal: a foreclosure, a short sale, or a traditional home sale?

A foreclosure goes into default and the banks reclaims the home. Many times, the banks can be a little behind in what the market values are, so foreclosed properties are priced too high for the current market. Additionally, most foreclosed properties are in disrepair. That’s why foreclosures aren’t always the best deal.

One of the great secrets in real estate is the short sale, which is perfect if you’re not in a hurry. Contrary to its name, a short sale is anything but short! These are properties where the homeowner has defaulted, but the bank has agreed to sell the home short of what’s still owed on it. You can get a tremendous deal on a short sale, especially if the homeowner has taken care of the property. You just have to be a little patient.

If you need a home in a timely manner and you don’t want to handle a lot of repairs, a traditional home sale is your best option. If you hire us, we can negotiate the best deal for you.

If you have any questions, give us a call or send us an email. We would be happy to help you!