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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Ace Hardware

Ace Hardware in Estherville

As your local Ace Hardware, we are one of 5,000+ Ace stores locally owned and operated across the globe. But we are not just about numbers. We are about helping neighbors, because each one of our stores is a part of your community. We are all committed to being "the Helpful Place" by offering our customers personal service, quality products and a convenient shopping experience from the local experts who know you best. As the helpful hardware folks in your neighborhood, we promise that helping you is the most important thing we have to do today.

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SUNNYVILLE BAKERY

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Immanuel Lutheran Church

Immanuel Lutheran Church in Spirit Lake

Immanuel Lutheran Church
2300 27th St
Spirit Lake, IA 51360

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Saturday at 6 p.m.
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