Banks and lending institutions eventually end up owning a home after the home owner stops making payments. The process of the institution taking the home from its default owner is called foreclosure. In Utah, this can take seven or more months.
Banks typically do not like to own homes. They are in the business of lending money, not managing real estate. Each bank has its own policy as to the disposition of its unwanted real estate. Some banks sell their properties as quickly as possible below market value. Other banks fix up their homes and try to sell at market value. Banks will most always sell their homes as-is. This helps protect the bank from further loss or litigation.
Banks are in the business of making money. They will not give away their real estate. In fact, the institution will try to sell their properties for as much as possible. In todays market, a bank may offer a 5-15% discount in order to sell their unwanted real estate quickly.
I'm ready to answer any question you might have about any of these listings. Call or email now!
Gary Pryor "Your Home is my Priority!"
Altius Realty
Email: priority@ListingUtah.com 801-221-9860
1 through 10 of 183 Homes Listed
Page 1
Short Sale (1/183)
Single Family in Utah County
Alpine, Utah 84004
Secure Real Estate, Inc.
(Real Estate Listing Office)
$399,500
6 bed, 2 bath
4718 sq ft
0.89 acre
SALE OF PROPERTY (2/183)
Single Family in Utah County
Spanish Fork, Utah 84660
R and R Realty, LLC
(Real Estate Listing Office)
$165,000
3 bed, 3 bath
1696 sq ft
0.13 acre
Short sale (3/183)
Single Family in Utah County
Saratoga Springs, Utah 84045
Secure Real Estate, Inc.
(Real Estate Listing Office)
$220,000
3 bed, 3 bath
3728 sq ft
0.17 acre
Best deals (4/183)
Single Family in Utah County
American Fork, Utah 84003
Michael Porter Realty
(Real Estate Listing Office)
$213,900
3 bed, 2 bath
2806 sq ft
0.21 acre
Possible Short (5/183)
Single Family in Utah County
Saratoga Springs, Utah 84045
