br
ba
1,491 sqft
Single-Family Home
From:
RealtyTrac
Listing Type: Foreclosure
Status:
Notice of Default (Pre-Foreclosure)
What's this?
Year Built: 1917
Price/sqft: $33
Lot Size:
Days on Market: More than 30 days
ZIP Code: 48203
Neighborhood:
Additional Info: Prior sale history, Assessor records
This property is a Notice of Default. This is the initial document filed by an attorney or trustee on behalf of the foreclosing lender that starts the foreclosure process. This 1491 square foot property has 0 bedroom(s) and 0 bath(s). The estimated loan balance is $49264. To access more extensive information...
Register at RealtyTrac for more details
The foreclosure process begins when a borrower/owner defaults on
loan payments and the lender files a public default notice, called a Notice of Default or Lis Pendens. Buying a
property in pre-foreclosure involves approaching the borrower/owner and offering to buy the property outright.
If the loan is not reinstated by the end of the
pre-foreclosure period, potential buyers can bid on the property at a public auction. Buyers often are required to
pay in cash at the auction and may not have much time to research the title and condition of the property
beforehand; however, a public auction often offers some of the best bargains and avoids the unpredictability of
dealing directly with the borrower/owner.
If the lender takes ownership of the property, either through an agreement with the
owner during pre-foreclosure or at the public auction, the lender will usually want to re-sell the property to
recover the unpaid loan amount. The lender will then typically clear the title and perform needed maintenance and
repair; however, the potential bargain for these REO homes is typically less than a pre-foreclosure or auction
property.
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Cedarhurst Pl, Detroit MI 48203
(Location is approximate)
Exact location unknown
| This home |
| Listing price: |
$49,264 |
|
| |
| Compared to Detroit |
| Avg. listing price: |
$86,770 |
-43% |
| Avg. sales price: |
$41,697 |
+18% |
| Avg. price/sqft: |
$36 |
-8% |
Proximity to this address does not guarantee enrollment eligibility. Please contact a
local real estate professional for more information
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Answered Thu Jul 24 2008, 07:22 by Leonard Rosen in
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This Single-Family Home located at Cedarhurst Place, Detroit MI 48203 is currently for sale and has been on the market for 99 days. Cedarhurst Pl is in the 48203 ZIP code in Detroit, MI. This property is listed by RealtyTrac for $49,264. The average listing price for ZIP code 48203 is $150,743, which is higher than the list price for Cedarhurst Pl. Cedarhurst Pl has approximately 1,491 square feet, and was built in 1917.
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