Foreclosure in Lake Elsinore>Question Details

emomark_29, Home Buyer in Lake Elsinore, CA

What are the properties owned by an individual?

Asked by emomark_29, Lake Elsinore, CA Tue Feb 26, 2013

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Hi Emomark,

Standard sales are owned by individuals. Standard sales can also be owned by corporations that flip properties, the transaction would be the same as one owned by an individual.
REO's are bank owned. Short Sales are owned by the individual also, however, they are close to a possible foreclosure, you first deal with the homeowner who accepts the offer then basically the bank takes over from there, with some minimal participation from the homeowner.

I hope this helped clear things up. Should you need any assistance in locating a property, feel free to contact me.

Carol Reed
951-660-5786
Lic# 01999803
0 votes Thank Flag Link Tue Feb 26, 2013
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