I am also seeing a trend on foreclosures that they are notreally going at a big discount. Short sales while they do take longer, ofter get the buyer a better deal. With a short sale, the buyer also gets full disclosure fork the seller as in most cases they are owber occipied and even if they ar enot there are still seller disclosure regarding the condition and usually the seller even if they did not occupy the property, does have knowledge of anything adverse that might have happened.
Best of Luck...Catherine Barden, Basic Brokerage Solutions
One of the things people overlooked and can be a great deal with very little inconvenience are the short sales that were in escrow and fell through because the buyers were tired of waiting for an answer. By that time, negotiations have started and sometimes the lenders even reached agreement. That's the best time to jump in and get a great deal with minimum time lost.
Don't underestimate a short sale! I don't.
If you need to see the information on a particular property, contact Chicago Title customer service at 619.521.3478 . Mention my name and they will give you ownership of any property. Sometimes, corporate owned means bank owned, sometimes it isa corporate relocation property and other times a Limited Liability Company or some other "corporate entity". Most of this depends on how the listing agent describes the property in the Multiple Listing Service. The comments you received so far were all good. Note, however, that a common complaint about most bank owned property is that you may be in multiple offer situations. I don't think that is beneficial to you as a buyer. I teach Realtors to look for the longest listed properties, since they usually have larger price reductions, more motivated sellers and are likely "off of the radar screens" of most buyers.
The short answer is yes; however, there have been some recent reports of fraud involving LLCs, so I recommend you and your Realtor fully understand the corporation's interest in the property, especially if the title was transferred recently,