Bank Short Sales
Welcome to our bank short sale page. A bank short sale occurs when the seller owes more money to the bank than they will achieve by selling their property, therefore any offer on the property has to be agreed to by the bank. These properties are normally priced very low just to get rid of them, as the owner will not have any prospect of receiving any funds from the sale, so basically they are passing the responsibility of the sale to the bank. In many cases it is a great opportunity to pick up a bargain.
Any offer has to be agreed by the lending bank but this comes with a problem, the banks can be very inefficient with these sales and it might take six weeks or six months to get the bank to agree to the offer.
Some of these properties might need repairs to bring them up to a rentable condition as many of them have been neglected by the owners for the above reasons. We have listed these properties with preliminary details, for interested clients we will send our property managers and Syracuse representatives into these properties to provide first hand information and repair quotes to get them up to rentable condition.
If you wish to reserve any of the following properties, after we have inspected them for you, it will require a one thousand dollar ($1,000 USD) deposit. If you wish to withdraw from the sale before the bank accepts your offer you will have your deposit refunded, less one hundred and fifty dollars ($150 USD ) charged to cover the cost of the inspections. Once your offer is accepted by the bank the sale will proceed normally to its conclusion, following our buying procedure.
