Hello and congratulations on your home buying goals. I would love to hear a little more about your location goals for the North Bend area and what loan type you are considering using to make sure I send you properties that are a good fit. Call, text or email me with your email address and I will send a few listing details of properties that we may want to tour. I look forward to hearing from you. 541-435-0000.... more
The mls will do a pretty good job of showing Short sales in the Comments section. Anybody that owes more than their home is worth could try and put a short sale together by accepting a low offer from a buyer.
It requires a realtor/Attorney that knows what is required to get the bank to accept the offer.
You could get a good deal but it is subject to the banks approval. Say a Bank is owed 4250K and the home is worth $250K. Maybe you want to pay $230K....well the seller can still make a deal with you but they have to convince the bank to take less that hey are owed and to pay the brokers.
For the seller it keeps them out of foreclosure. For the buyer this is a way to see the home and work with a cooperating seller to get you a good deal. They at that point are just trying to save their credit.
It can be more complicated but anybody that is in a default situation should be willing to listen to a short sale offer.