A foreclosure occurs when a borrower defaults on their agreement with their lienholder. The lender will then attempt to cover their losses by selling the property. Because of this, the lienholder is only allowed to sell the house to cover their losses and any legal costs. This allows investors to purchase properties below the actual value. Our foreclosure listings actually show a Price History, so that you can tell how motivated the selling realtor is to "unload" the property. If the price is dropping rapidly, they are more likely to be motivated to sell.
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