Pebble Beach,CA in Monterey County, is arguably one of the prettier places on the coast. It costs alot to purchase a home here normally, but there are some great deals on Pebble Beach bank owned properties Not many places are immune to economic downturns as business and individuals alike have ups and downs. You can find Pebble Beach REO's and short sales here or just great deals, besides Monterey.
Buyers looking for foreclosures in Pebble Beach can search the Pebble Beach MLS for foreclosed luxury homes for sale. If a home goes to the foreclosure auction, one can bid cash there if you are a sophisticated buyer. If no one buys the property at the courthouse steps, then the ownership reverts to the bank. Luxury REO or bank owned Pebble Beach homes will usually be fixed up and resold later. Pebble Beach homes sold before the foreclosure stage are known as short sales.Both are good opportunities for the investor or homeowner.
When a home is sold for less than the amount still owed to the bank, it is called a short sale. Pre-foreclosure, also know as short sales can present a great opportunity for buyers looking for a good deal. Sellers who are looking to get out from under their mortgage, should consult with a knowledgeable agent regarding this time-consuming process.
Before you embark on the purchase of a short sale, make sure you have an experienced agent. Even though sellers are losing their home, as they often live there. That said, short sales can take a very long time to complete, and there's no guarantee that the lender will approve the deal, especially when there is alot at stake. Buyers looking for Pebble Beach short sales are wise to talk to a REALTOR® who is experienced with these types of sales, so they know exactly what they're getting into, on each particular home.
If you have any questions about buying short sales or REOs in Pebble Beach, feel free to contact Gregg for answers or call 831-818-7524. You can also expand your search by viewing all homes for sale in Carmel.