Marc Scheinberg
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Want the most current listing information? Need local real estate advice? Call me: 901-261-7959.  Special OffersSign Up For My eNewsletter, FREE! There are always important changes happening in the real estate market, locally and nationally. These changes can affect YOU. Find Out More > View All Offers >  TestimonialsMarc's marketing was better than any other agent We signed a contract with Marc in January and by April, we had a contract. F & P Andello Read Quote > View All Quotes >  |
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Don't Forget To Request A Quick Status Report On Any Homes Or Properties That Interest You! It can take days, weeks, or longer for changes to appear on web sites. Don't waste your time with less than current information. Request my free Status Report and find out if the homes you are interested in are still on the market, under contract, in escrow, or if the price has been reduced. The Status Report that you'll receive by email will also include other important information that has been left out or that is available to me through my professional resources, such as how long the property has been on the market, when it was last sold, what it sold for, and more. Remember: As a Memphis, Bartlett, Lakeland and Germantown area real estate agent, it's my job to know more about a property than any web site. Make sure you have the most current information! Real Estate TipsForeclosures >2. What Is a Bank Owned Property? When a home owner misses payments on his or her mortgage, the loan becomes default and the home or property becomes distressed. What happens next depends on an appraisal and the equity of the home. If short sale isn’t a viable option for the home owner and the lender, the foreclosure process takes over and the home or property goes up for foreclosure auction. A bank-owned property (also referred to as a "real estate owned" or "REO" property) is one that was up for sale at a foreclosure auction but did not sell and therefore now belongs to the lender (usually a bank, but can also be any government agency or loan insurer.)
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