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Seattle Foreclosure Search

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Receive Seattle Foreclosures Daily

Foreclosure

For some, it is a word that conveys the fear and dread of financial ruin, while for others it infers a positive economic opportunity. Regardless of the perspective, it is possibly the most misunderstood aspect of any real estate market.

Buying Foreclosures

Buying directly from the bank is preferred by many because it is a more methodical, predictable and non-emotional process than buying from the distressed seller. 

Not all REOs are good deals. Many banks want market value in order to recoup as much of their losses as possible. Others are more concerned with liquidating their REO inventory as these non-performing assets have a negative impact on their books. We have relationships with  asset managers and REO officers, so knowing which lenders are motivated sellers and which properties represent a bargain is where we come in.

Facing Foreclosure

If you are an owner of Seattle real estate that would like to know what options you may have in avoiding foreclosure or walking away from the mortgage, fill out the contact form on the right or contact us at (425) 224-1282 to schedule a confidential consultation. 

The foreclosure process begins when the lender files a Notice of Default, or NOD, with the County Recorder once a borrower defaults on their loan.  The process ends when:

Within the grace period determined by state law (pre-foreclosure), the borrower pays the default amount and reinstates the loan, or 

The property is sold during the pre-foreclosure time period, allowing the borrower to pay off the loan. A situation where the loan is greater than the sale amount, but the lender agrees to a loan pay off that is less than what is owed is referred to as a short sale, or short pay. Or, 

At the end of the pre-foreclosure period, a trustee sale occurs and the property is sold at a public auction to a third party, or 

The lender takes ownership of the property through an agreement with the borrower during the pre-foreclosure time period, or buys the property at the trustee sale. The bank-owned property is referred to as real estate owned, or REO.

Seattle Real Estate Listings

941 11th Ave E Unit 3, Seattle image
941 11th Ave E Unit 3, Seattle — The Fairmont $1,735,000 ▼

Presenting The Fairmont! Stylishly chic, iconic & meticulously updated for modern living. Light drenched, w/amazing art walls, a sleek chef's kitchen & unparalleled enter...

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  • 2 Beds
  • 2 Baths
  • 1650986 MLS
  • ACTIVE Status
Courtesy of COMPASS

Listing courtesy of COMPASS.

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9450 Renton Ave S, Seattle image
9450 Renton Ave S, Seattle $1,599,999

Location! Location! Location! Extremely Visible Office Building with ample Parking. Building features 2 separate offices with 4 rooms each and a bathroom. Plenty of parki...

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  • 1711744 MLS
  • ACTIVE Status
Courtesy of Better Properties NW Renton

Listing courtesy of Better Properties NW Renton.

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800 Columbia St Unit 3503, Seattle image
800 Columbia St Unit 3503, Seattle — The Graystone $1,595,990

The Graystone - refined high-rise living in historic First Hill amidst leafy streets, pocket parks & urban conveniences. Discover an artfully-inspired 2bedroom floorplan,...

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  • 2 Beds
  • 2 Baths
  • 1712303 MLS
  • ACTIVE Status
Courtesy of Realogics Sotheby's Int'l Rlty

Listing courtesy of Realogics Sotheby's Int'l Rlty.

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1701 E John St, Seattle image
1701 E John St, Seattle $1,499,950 ▲

Beautiful Traditional Home on a corner lot in Cap Hill! Perfect Home w/ 4 Bed 2 Bath w/ 2 Living Rooms, Basement, Rooftop Deck & Lower Courtyard. New interior paint and c...

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  • 4 Beds
  • 2 Baths
  • 1654068 MLS
  • ACTIVE Status
Courtesy of The Preview Group

Listing courtesy of The Preview Group.

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2014 E Cherry St, Seattle image
2014 E Cherry St, Seattle $1,398,500

Prime location! This turnkey renovated duplex is centrally located and minutes to downtown, Seattle U, Providence Med Center, Capitol Hill & more. Two units, including sp...

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  • 1721728 MLS
  • ACTIVE Status
Courtesy of Real Property Associates

Listing courtesy of Real Property Associates.

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The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.

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