Erie Colorado Foreclosures
Before you venture into the Erie foreclosure market, you need to decide whether a short sale or foreclosure is better for you. A foreclosure is also known as a bank owned home or REO (real estate owned). These terms all refer to the fact that ownership of the home has reverted to the lender, so buyers will need to negotiate with a bank instead of a private homeowner.
At below market prices, foreclosure properties can provide buyers with a great opportunity to buy affordable real estate in the Boulder region.
The median price for Erie Colorado foreclosures is currently $238,135.
Read more about short sales and bank owned homes in Erie, or see Erie CO foreclosure listings below.
Erie CO Foreclosure Listings
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The data relating to real estate for sale on this web site comes in part from Information and Real Estate Services, LLC under IRES Rules © Copyright IRES, and is provided for limited non-commercial use. Information is provided exclusively for consumers' personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are included in this site and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.
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Erie Bank Owned Homes & Short Sales
Unlike bank owned homes, short sales take place prior to the foreclosure filling, when a homeowner is having difficulty paying their mortgage. Essentially, the homeowner tries to sell his or her home for less than is owed on the mortgage. This requires approval from the lender, but is one way for both parties to avoid the foreclosure process.
For buyers, short sales can be an excellent way to save money on a house, while being less risky than a foreclosure. This is because the homeowner is still living in the house and actively trying to attract a buyer. The homeowner is motivated to sell, so he will care for the house more than someone losing their home to foreclosure.
There are drawbacks however, as short sales can be time consuming and require a lot of paperwork. There's also no guarantee that the bank will approve of a short sale, but if you find a property you love, a short sale might be worth the effort. For information on short sales, please feel free to contact us. Our team of Erie real estate agents will be able to recommend properties that make good financial sense.
If you're in the market for a distressed property, but aren't sure if Erie is right for you, be sure to check out our listings of Boulder foreclosures, Louisville bank owned homes, Lafayette REOs, Longmont foreclosure properties, and Broomfield foreclosures.
Call (303) 449-7000 to speak with one of our RE/MAX of Boulder agents about buying bank owned homes in Erie, Colorado.
RE/MAX of Boulder
2425 Canyon Blvd. #110Boulder, CO 80302
Phone: 303-449-7000
FAX: 303-449-8554