best to contact a local agent like James Scott below that can show you comparables sales to show if prices are fair.
short Sales are usually called pre foreclosures and these prices are usually set by the seller or the Realtor. They actually price the bank may agree to sell may be more or less than the listing price.
True REO foreclosures being offered by banks are as James said fair market value because the bank had to do the appraisal.
I can email you my free Home Buying Process brochure just email me at firstname.lastname@example.org
Short sales are pre foreclosures. You deal with homeowner then with the bank.
Down payments are same usually except some foreclosures required larger escrows. Their contracts are strict and dont allow much room to get out.
Financing is usually the same. there are exceptions there also. with some foreclosures there can be incentives in financing offered by the banks.
contact me to discuss particulars...
A foreclosed property is owned by the bank. You'd be dealing with them similar to any seller.
The prices are negotiable, however banks price their properties professionally via an appraisal.
I'd be glad to chat with you about specific properties that have caught your attention.
I live on the Island and know the market well. As a licensed Real Estate Broker in New Jersey, I can prepare a contract for sale for any residential property up to and including a four-plex.
Here for you... for Shore!
Keller Williams Realty Jersey Shore
609 425 7121 cell to 9 PM daily.
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