Pelham, New Hampshire Foreclosed and Bank Owned Property
When a homeowner defaults on his/her mortgage in New Hampshire, the lender will start the process of obtaining the right to sell that property at auction in order to satisfy the debt (balance owed on the mortgage).
Purchasing a home at a foreclosure auction has many risks to a potential buyer (especially a first-time home buyer). There is commonly no opportunity to view the interior of the property, conduct proper inspections and in some cases, there are individuals still occupying the premises. Because of these risks, homes in Pelham, NH are not always sold at auction and the bank will instead take possession of the property. The property is then referred to as bank-owned, REO (real estate owned) or foreclosed property.
There are cases where a homeowner will attempt to sell their home before the bank starts the foreclosure process. The home owner is either already behind on their mortgage payments or will not be able to sell for a price that would cover the balance owed on their mortgage. This is referred to as a short-sale and requires the lender's approval. Obtaining approval can be a long and difficult process. Additionally, there is no assurance that the lender will accept an offer at or above the listed price.
Bank-owned (REO)and short sale listings in Pelham, NH are in all price ranges and often marketed with a real estate agent and placed in the New Hampshire Multiple Listing Service (to ensure full market exposure). As a service to you we will provide:
- A list of existing real estate foreclosure (bank-owned) and short sale listings(home pictured) in Bedford, NH and other communities you select.
- Email alerts on NEW foreclosure (bank-owned) and short sale listings in the New Hampshire MLS.
- Address and mapping information so that you may drive by the listings and assess the locations.
Visit Pelham New Hampshire Real Estate to receive school reports, search the MLS, request a CMA, obtain relocation, home buying and selling guides.
Information is provided by Virtual Homes and real estate services provided by RE/MAX Country Properties, Amherst, NH. Go to Virtual Homes MLS for a map based search of all MLS listings of NH and Massachusetts real estate. Visit Massachusetts real estate to obtain relocation and school information in MA towns. Preview communities in Maine at Maine Real Estate.