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Distressed Color Guide

Short Sale In a Short Sale, the lender agrees to discount the loan balance to avoid foreclosure. The owner / debtor sell the mortgaged property for less than the loan balance but the lender has to approve the sales price/ offer. In some cases a buyer may get a better deal with a short sale purchase as opposed to a REO purchase (after foreclosure). Post-Foreclosure A "post foreclosure" is a property which has already been foreclosed on and sold by the bank to an investor. The investor usually buys properties in bulk and re-sells them for a profit. Most of these properties are in poor condition and the investor (new owner) will often offer financing to the buyer. Please note that "post foreclosure" is not a real term used in the real estate or banking industry. REO (Real Estate Owned) Real Estate Owned is property which has been foreclosed on and returned to the bank. The bank will typically hire a real estate broker to resell the property to recover as much of their losses as possible.

CALIFORNIA

• San Francisco - 250 King Street #1004
  Short Sale :: Studio condominium at the Beacon - next to Caltrain, AT&T Park

GEORGIA

• Atlanta - 1105 Lookout Avenue NW
  Post-Foreclosure :: 3/1 in fair condition, needs work. $1000 down, no credit check.
• Atlanta - 975 North Avenue NW
  Post-Foreclosure :: Duplex with 1/1 units, needs work. $1000 down, no credit check.

INDIANA

• Indianapolis - 25 N. Drexel Avenue
  Post-Foreclosure :: residential lot. $1000 down, no credit check.
• Indianapolis - 2947 N. Euclid
  Post-Foreclosure :: 2/1 in fair condition, needs work. $1000 down, no credit check.

MICHIGAN

• Detroit - 9039 American Street
  Post-Foreclosure :: 3/1 in fair condition, needs work. $1000 down, no credit check.

MISSOURI

• Saint Louis - 10041 Monarch Drive
  Post-Foreclosure :: 3/2 in fair condition, needs work. $1000 down, no credit check.

OHIO

• E. Cleveland - 14114 Orinoco Avenue
  Post-Foreclosure :: Duplex 2/1 each floor, needs work. $1250 down, no credit check.
• Dayton - 827 S. Euclid Avenue
  Post-Foreclosure :: 2/1 in fair condition, needs work. $1000 down, no credit check.
• Toledo - 415 Eastern Avenue
  Post-Foreclosure :: Lot 30' x 100'. $1000 down, no credit check.

PENNSYLVANIA

• Pittsburgh - 908 Excelsior Street
  Post-Foreclosure :: 2/1 in fair condition, needs work. $1000 down, no credit check.
• Pittsburgh - 2644 Perrysville Avenue
  Post-Foreclosure :: Triplex, needs work. $1000 down, no credit check.

TENNESSEE

• Memphis - 1638 Monsarrat Street
  Post-Foreclosure :: Lot. $1000 down, no credit check.

WISCONSIN

• Milwaukee - 2403 N. 20th Street
  Post-Foreclosure :: Triplex - 2 houses, 3 units, only $1500 down, no credit check.