Vestavia Hills Foreclosure, Short Sale, Special Situations

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in Birmingham Housing Market

Vestavia Hills Foreclosure Short Sale Homes for Sale

Vestavia Hills Special Situations

You can utilize this page to monitor foreclosures, short sales, and special situations as they develop within Vestavia Hills.

Special situations such as foreclosure proceedings, short sale, relocation, and bank owned properties within Vestavia Hills are monitored and updated automatically on a daily basis.

Vestavia Hills 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.

Vestavia Hills 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.

Vestavia Hills 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.

Vestavia Hills 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.

Vestavia Hills  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.

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The data relating to Birmingham AL Real Estate on this Web site derive in part from the Greater Alabama MLS IDX program. Listings marked with the BAMLS logo are provided courtesy of the Birmingham Association of REALTORS®. © 2013 Greater Alabama MLS, Inc. All information provided is deemed reliable but is not guaranteed and should be independently verified.

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