Vision Realty

What Is An REO vs Short Sale?

Whats the difference between a short sale and REO property?

Short Sale:

When an owner owes more on the mortgage than the house is currently worth and the bank agrees to sell it 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 in your current market as you view properties online or with your agent. Short sales can be complicated.

REO Property:

An REO property has already gone through the foreclosure process and is currently owned by the bank. 

 

TIP

Buying foreclosures is not a get-rich-quick scenario despite what you hear on TV. REOs can offer you a way to buy property  in your area at below-market prices, but the process is different than a normal home sale.

Get In Touch

Local Expert Updates

Donna De Weerd Broker/Owner (Real Estate Agent)

Donna De Weerd

Broker/Owner

712.441.5627

712.722.0045


Darren Van't Hul  (Real Estate Agent)

Darren Van't Hul

712.578.9114

712.722.0045


Kristin De Jong  (Real Estate Agent)

Kristin De Jong

712.722.0045


Kimberly Dekkers Sales Associate (Real Estate Agent)

Kimberly Dekkers

Sales Associate

605.610.5138

712.722.0045


Rachel Hoogeveen Sales Associate (Real Estate Agent)

Rachel Hoogeveen

Sales Associate

712.441.5100

712.722.0045


Community Updates

Donna De Weerd Broker/Owner (Real Estate Agent)

Donna De Weerd

Broker/Owner

712.441.5627

donnadw@mtcnet.net

Sioux Center Indoor Fair - March 20 & 21

Sioux Center

“The Show of ALL Home Shows” is a comment we get quite often from our exhibitors. We are proud to say this event has been taking place for over 50 years. Each year, during the 3rd full week of March,

More Info
Donna De Weerd Broker/Owner (Real Estate Agent)

Donna De Weerd

Broker/Owner

712.441.5627

donnadw@mtcnet.net

Seven Reasons to Make Sioux Center Your Home

Local Happenings

Sioux Center is growing so fast! We are finding that families are moving here for a variety of different reasons and we would like to share just a few with you. Small town feel with the big city

Darla Van't Hul Sales Associate (Real Estate Agent)

Darla Van't Hul

Sales Associate

712.578.9621

darlamaevh@gmail.com

Boyden-Hull Community Schools

Hull

Boyden-Hull students will learn the basics of education and will be provided with beneficial technology and expansive career opportunities. They will be encouraged to participate in community service,

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