Birmingham Special Situations
You can utilize this page to monitor foreclosures, short sales, and special situations as they develop within Birmingham.
Special situations such as foreclosure proceedings, short sale, relocation, and bank owned properties within Birmingham are monitored and updated daily.
Birmingham Short Sale Homes for Sale
A short sale is the term used to describe a special situation where the home owner is attempting to sell their home below what is currently owed on their mortgage. This is often a pre-foreclosure situation where the home owner and mortgage holder are attempting to avoid foreclosure procedures. It is very important to ensure that the mortgage holder is already involved with the potential short sale.
Birmingham Foreclosure Homes for Sale
These properties are in the foreclosure process and first right of refusal laws may be binding. These homes often time have short sale pricing however the mortgage holder is more motivated at this stage of the foreclosure process.
Birmingham Bank Owned (REO) Homes for Sale
These properties have completed the foreclosure process and the mortgage company now owns the property (Bank Owned) and is occuring any carrying cost associated with the home. This is similar to the Relocation special situation mentioned below where carrying costs are influencing the motivation of the seller and deals can be made.
Birmingham Relocation Homes for Sale
A Relocation special situation occurs when a Relocation Company has purchased a home from their client’s employee and is covering the carrying costs of marketing and up keep. Relocation companies are very motivated sellers and often a deal can be worked out.
Birmingham As-Is Homes for Sale
There are a number of reasons why a seller will apply the As-Is attribute to the sale, from a fixer-upper, restored historic home, the current list price is their bottom-line, etc. These properties are unique special situations where the home is being sold As-Is and each opportunity will need to be examined on its own merit.