Festus Okolie, Realtor

10/01/2022

08/18/2020

Very often, people ask me what a distressed property mean, so I decided to write this brief explanation of it.

A distressed property is a property that is being sold or foreclosed by the lender. When you own a home or property and you become unable to make your mortgage payments and/or property tax bills, the home or property becomes "distressed". Most distressed properties are sold below market value. There are typically three categories of distressed properties, namely Foreclosed Homes, Real Estate Owned (Bank Owned) properties, and Short-sales.. I will explain each of the three categories in my next post.

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06/25/2020

Welcome to our new and improved Real Estate page. While you are enjoying reading the page, we welcome your comments and tell us how we are doing. We are always on the side of excellence and improvement. We will appreciate it if would spare a second and like this page by clicking the "Like" button.