Short Sale and Bank Owned Properties

Below is a list of current short sale residential properties in Santa Fe County.

SHORT SALE PROPERTIES

Listings link, all short sales: Copy this text to the address line in your browser:

http://santafemls.rapmls.com/scripts/mgrqispi.dll?APPNAME=SantaFe&PRGNAME=MLSLogin&ARGUMENT=MhJQceZI4X4BMrAl7rXqwcgHPRQWETiLYJuhQpWrSds%3D&KeyRid=1&Include_Search_Criteria=on

Listings link, all short sales $700,000 and over: Copy this text to the address line in your browser:

http://santafemls.rapmls.com/scripts/mgrqispi.dll?APPNAME=SantaFe&PRGNAME=MLSLogin&ARGUMENT=MhJQceZI4X4BMrAl7rXqwV%2F%2BDmaEEBfh%2BRfKLVV50uk%3D&KeyRid=1&Include_Search_Criteria=on



What is a short sale? A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan.[1] It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency.[2]


Below is a list of current bank owned residential properties in Santa Fe County.

BANK OWNED PROPERTIES

All bank owned listings link: Copy this text to the address line in your browser:

http://santafemls.rapmls.com/scripts/mgrqispi.dll?APPNAME=SantaFe&PRGNAME=MLSLogin&ARGUMENT=MhJQceZI4X4BMrAl7rXqwUul1ZHk4auF34sMQXgqcHM%3D&KeyRid=1&Include_Search_Criteria=on

Listings link bank owned properties $700,000 and over: Copy this text to the address line in your browser:

http://santafemls.rapmls.com/scripts/mgrqispi.dll?APPNAME=SantaFe&PRGNAME=MLSLogin&ARGUMENT=MhJQceZI4X4BMrAl7rXqwdLqUtnrvQCDP%2F0huK9gcKw%3D&KeyRid=1&Include_Search_Criteria=on

What is a bank owned property?

Bank Owned, or REO properties, also known as Real Estate Owned properties, are a type of property owned by a lender after a repossession and auction process. Properties only become REO properties after their ownership transfers from the original owner to the lending agent, usually due to failure or inability to make mortgage payments. Here are some additional facts about REO properties.