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Buying & Selling Foreclosures & Short Sales in Maryland

If you're in the market for a new house or rental property, you might be interested in what foreclosures and short sales have to offer. Just be aware that, while you can strike an excellent bargain on these types of homes, they can be more complicated and time-consuming than regular real estate purchases. This means you should only attempt to go through the foreclosure and short sale process with an experienced realtor by your side.

Tidewater Realty Group offers help for buyers and sellers going through foreclosures and short sales in Maryland. We'll help you navigate the market and point out good opportunities worth pursuing, saving you time and effort as you hunt for the perfect new home or property to rent out.

For reliable foreclosure and short sale real estate services in Maryland, please contact us today.

Foreclosures

When a property goes into foreclosure, it means the owner has stopped making mortgage payments, and the lender has initiated the process to foreclose and repossess the property. If the homeowner fails to catch up on back payments and fees in time, the house goes on the market and sells to the highest bidder.

Buying a Foreclosed Home

It's possible to strike a great deal on a foreclosed house because the lender auctions it off for the amount still owed, allowing you to pick up the existing equity for free. Just be aware that foreclosed homes frequently require extensive renovations, which will add to the upfront cost.

It's beneficial to have guidance from a real estate professional that has experience buying foreclosed homes. Tidewater is a great resource. With our help, you can easily navigate the complexity of the foreclosure market in Maryland.

Short Sales

A short sale occurs when a homeowner is in pre-foreclosure, but the house goes on the market before the bank seizes it and sells it at auction. In this situation, the lender must agree to accept less than the amount owed on the property. The bank is willing to strike such an agreement to avoid dealing with a foreclosure.

Buying a Short Sale

Despite the name, a short sale is anything but short. In fact, the process can take months longer than the average house purchase. Certain liens, including unpaid HOA fees or a second mortgage, must be sorted out before the sale goes through. And even then, the lender may change its mind at the last minute.

To avoid a hectic situation when pursuing a short sale, choose Tidewater as your real estate agent. We'll help you find approved short sales that will prove to be a worthwhile investment.

Short Selling a Home in Pre-Foreclosure

You can avoid going into foreclosure if you short sell your home during the pre-foreclosure phase. This is your chance to settle your debts with the lender without a foreclosure causing serious damage to your credit. You won't own the house anymore, but under certain conditions, you are allowed a statutory right of redemption that allows you to repurchase the home within a certain period.

For help selling your home while in pre-foreclosure, count on Tidewater. We understand this is a difficult time for you, and we'll work on your behalf to help you find the best option for your family.

Buying & Selling Foreclosures & Short Sales in Maryland

We have decades of experience navigating the foreclosure and short sale market in Maryland. We're confident we can help you buy or sell your home quickly by making sure you meet all requirements and document deadlines.

To learn more about our real estate services, please contact us today.



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Tidewater Property Management, Inc.

Tidewater Property Management has been offering association management throughout Maryland, Virginia, and Washington DC, as well as rental property management in Maryland, since 1989.
3706 Crondall Lane, Suite 105 21117 Owings Mills MD,