Foreclosures

REO, Short Sale Specialists

When you work the Pawlak Team, you are working with very Experienced REO agents. Marge Pawlak has sold REO properties for over 20 years. Your entire sale and/or purchase will be handled with a team that knows the process and understands the expectations. Contact us today to learn more.

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Foreclosure Timeline Information

Short Sale

Marge Pawlak has been recommended by banks and has also helped banks sell the short sales since 2010. We are here to help you understand the process and answer your questions.

REO Sale

A bank-owned foreclosed home, otherwise known as an REO (real estate owned) property, is purchased with a REALTOR®, and the home is listed. The home is sold in "As-Is/Where-Is" condition, and a home inspection is recommended. A title is provided, liens are paid, and closing costs are prorated to the date of closing as with normal residential real estate closings.

If you are purchasing a condo, the HOA may bill for the unpaid payments, six months before the foreclosure date. The home may also be purchased using a REALTOR® at an auction. The bank holds auctions with experienced auction companies.