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Miami Condos - Miami Beach Condos - Foreclosures - Short Sales
Condos Foreclosures and Short Sales for sale in Downtown Miami, Miami, Miami Beach and South Beach
Downtown Miami Foreclosures, Downtown Miami Short Sales, Miami Beach Foreclosures, Miami Beach Short Sales.
Welcome to CondoClearance.com - CondoClearance.com is a service of Miami Condo Realty, Inc. - a South Florida Licensed Real Estate Brokerage. On this website you will see active listings of Short Sales and Foreclosure/Bank-Owned Properties. Buyers please keep in mind that some of these listing prices will require lender approval. Cash purchase is preferred and in some cases required.
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What is the difference between a Foreclosure and a Short Sale?
A Foreclosured property or a REO (Real Estate Owned) property is one in which the lender or other lien holder of the property has gone through a legal and professional proceeding to gain ownership of the property from the previous owner.
A Short Sale is a process by which a lender or lien holder of the property allow the current seller to sell the property to a new buyer which will still result in a short payoff of the original loaned amount on the property. Many lenders will prefer a process of short sale in order to avoid a lengthy process to obtain a foreclosed property.
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