For those of you that didn’t see the post a few weeks ago “Seatte Foreclosure List“, in an exclusive partnership with Vestus, we now have the ability to send out a weekly list of Seattle condo foreclosures (Free Service). This weeks foreclosure list includes a unit at Mosler Lofts on the 4th floor. For those of you interested in receiving the free list of weekly foreclosures, add your name to our e-mail system (see here) or simply fill out the form below.
Not all foreclosures are a good buy. In fact, prices have fallen so rapidly that many banks refuse to take the loss necessary in order to move the unit. Thus, creating a situation of adding more real estate to their balance sheet.
In the case of the Mosler Lofts unit referenced above:
The debt on the unit is: $341,281.38
The owner has back payments or arrears of $15,048.75
Creating a total debt to the bank of: $356,330.13
The minimum bid at auction will be $360,874.91
A myth about foreclosures is that you have to have 100% cash. There are plenty of resources that all you to purchase with as little as %15 down. If you have any questions, please feel free to contact us.