sellboji

What Is An REO vs Short Sale?

Here's something you might be wondering: What's the difference between an REO property and a short sale?
An REO property is one that has already gone through foreclosure and is currently owned by the bank, which is trying to sell it to a buyer.
A short sale is a real estate transaction that takes place when an owner owes more on the mortgage than the house is currently worth and the bank agrees to a sale for less than the full mortgage balance in order to avoid foreclosure. A property involved in a short sale is not bank owned.
The number of short sale transactions has increased in recent years, and you're likely to run into homes like this on the market as you view properties. As with REOs, short sales can be complicated.

 
TIP
Despite what you may hear on TV, buying foreclosures is not a get-rich-quick scenario. REOs can offer a way to buy property at below-market prices, but the process is different than an average home sale.

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Local Expert Updates

Matt Lippon Broker Associate (Real Estate Agent)

Matt Lippon

Broker Associate

712.330.0604

712.336.4967

Janie Eick Real Estate Professional (Real Estate Agent)

Janie Eick

Real Estate Professional

712.339.0574

712.336.4967

Aaron Jones RE/MAX Hall of Fame & Lifetime Achievement (Real Estate Agent)

Aaron Jones

RE/MAX Hall of Fame & Lifetime Achievement

712.320.9442

712.336.4967

Community Updates

Greg Sheeler Real Estate Professional (Real Estate Agent)

Greg Sheeler

Real Estate Professional

 712.330.1573

 greg@okobojipropertygroup.com

Allure & Co

Spirit Lake

What do you get when you combine four great businesses? Allure & Co. Studio 1328, Boat House Apparel, Lake Life, and House of Fleur are all of the amazing businesses in the chic space in downtown

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Matt Lippon Broker Associate (Real Estate Agent)

Matt Lippon

Broker Associate

 712.330.0604

 matt@okobojipropertygroup.com

Okoboji High School

Milford

Welcome to Okoboji High School. At OHS we are Pioneering Pathways for Every Student by building on the outstanding foundation and diverse learning opportunities available to students at Okoboji

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Matt Lippon Broker Associate (Real Estate Agent)

Matt Lippon

Broker Associate

 712.330.0604

 matt@okobojipropertygroup.com

Boji Bay Funhouse Pavilion

Milford

Boji Bay Funhouse Pavilion 2501 Boji Bend Dr Milford, IA 51351 Boji Bay Funhouse Pavilion offers a LOT. Facilities Include: Banquet area with a giant indoor rug slide, kitchen/catering, Bar

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