Distressed property sales refer to the sale of real estate proeprties that are in financial distress. This could be due to a number of factors such as foreclosure, bankruptcy, or default on mortgage payments. These types of sales often occur at a reduced price compared to their market value as the owner is motivated to sell the property quickly to alleviate their financial burden. Wheter you are looking to buy or sell a distressed property, it is important to work with a knowledgeable real estate agent who can provide the right guidance and support.
If you find yourself in a position where you are behind on your payments or your property is no longer worth the amount you borrowed against, you are no doubt experiencing a great amount of stress. At LuXre Realty, we appreciate your situation and we understand how the market or your personal circumstances can sometimes change unexpectedly. LuXre Realty is here to help, primarily by negotiating with your lender(s) to sell the property for less than what you owe. This process is known as a “Short Sale”.