Corona short sales can be a good investment for you, IF you have the patience to wait until the bank makes a decision on where to grant the seller short sale approval or not.
The process can take 3 to 6 months.
We have complied all of Corona short sales properties for sale on the market right here on our website.
Now you can start looking for a bargain….however, there is a catch. What is it? The listed price of the home or condo is not always the final sales price.
Corona Short Sales of Homes & Condominiums
Review all of the Corona short sales below…sometimes they are referred to as pre-foreclosures. At any time during your search, you can refine your criteria with our new property search tools. or look at more Corona real estate for sale.
Beware: Corona Short Sales Lenders May Counter You at Market Value
That means that the home could be listed for sale at $550,000 and you offer $550,000. The bank goes through the short sale process including hiring an appraiser who discovers that the home is worth $600,000.
Then, the bank has the option to counter you as the buyer back on the price at the time of the short sale approval. The bank is trying to collect a debt and want to get the most money for the home.
Why was it priced low to start with? Well, if the owner was going to be foreclosed on quick, he/she may choose to price their house lower then market value to get an offer.
Once they get an offer, then the listing agent can submit a short sale package to the bank. I will figure out the true value of the house and review your options before you decide to make an offer.