Tampa Short Sales & Foreclosures - Residential & Commercial!  FREE LISTS via EMAIL! 

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Our database includes active Pre-Foreclosures, Foreclosures, Bank Owned, REO's, Auctions, and Short Sales.  These lists will provide you with Tampa Residential Distress Sales as well as Tampa Commercial Foreclosure Properties which are distress sales.  Choose which list you want, or both!

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Buying Tampa Foreclosures, Tampa REO, and Tampa Short Sale Properties requires a Tampa Realtor that is experienced in the process, knows the paperwork and can help you get the best deal on a property. 

Are you interested in finding Tampa area short sales and foreclosure properties?  You can often get a great deal on the many properties available that fall into this category.  Currently in Florida, there are thousands of properties listed on the MLS as short sales, pre-foreclosure, foreclosures and REOs.  Click here to receive free Tampa short sale and foreclosure listings via email!

What does it mean if a home is Bank Owned, REO, Foreclosure, or a Short Sale?

What is a Tampa REO or Tampa Foreclosure?

REO stands for “Real Estate Owned”.  An REO home, also referred to as a bank foreclosure, is real estate that is owned by a bank. This usually occurs after a homeowner has defaulted on his mortgage loan, forcing the lender to buy back the house at auction. Buying REO homes can be a terrific way to get a deal on a new house or investment property.

What is a Tampa Short Sale or Tampa Pre-foreclosure?

A Tampa Short Sale is when the current owner of the home has fallen behind on the mortgage and has not been able to work out a repayment plan with the mortgage company.  The owner then asks the lender for permission to sell the home for less than what they owe on it.  Any offer that comes in on the home have to be approved by the lender before the sale can proceed.  Be aware that the seller will need to be in default, to have stopped making mortgage payments before a lender will consider a short sale. Also, the seller might have over-encumbered, owe more than the home is worth, so a discounted price might bring the price in line with market value, not below it.  Typically, the lender will not want to put the house into foreclosure due to the fact that it typically costs them anywhere from $30,000 - $75,000 to do so.  So if there is a chance that they can recoup some of their loan, they will favor a short sale over proceeding to foreclose on the home.