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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

Seattle image
Seattle $27,500,000

In a private Lake Washington setting, this is one of Seattle's great estates. Meticulously curated with a nod to its historic past, this estate has been restored to a mod...

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  • 6 Beds
  • 10 Baths
  • 1750093 MLS
  • ACTIVE Status
Courtesy of COMPASS

Listing courtesy of COMPASS.

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1521 2nd Ave Unit 3501, Seattle image
1521 2nd Ave Unit 3501, Seattle — Fifteen Twenty-One $2,900,000

Offering views high above Puget Sound, Elliott Bay, the Olympic Mountain range and overlooking Pike Place Market plus the bonus of sparkling City lights in this sophistic...

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  • 2 Beds
  • 2 Baths
  • 1754074 MLS
  • ACTIVE Status
Courtesy of Realogics Sotheby's Int'l Rlty

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

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1521 2nd Ave Unit 3001, Seattle image
1521 2nd Ave Unit 3001, Seattle — Fifteen Twenty-One $2,825,000

The best of Seattle is right outside your door when living in Seattle's finest tower. Enjoy the everchanging views from your home high above Puget Sound, Elliott Bay, vie...

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  • 2 Beds
  • 2 Baths
  • 1755234 MLS
  • ACTIVE Status
Courtesy of Realogics Sotheby's Int'l Rlty

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

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Seattle image
Seattle $2,500,000

This lot is currently an auto shop with 5 bays and office space on a corner lot. Highly visibility from the street in the Rainier neighborhood. Also accessible on S Myrtl...

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  • 1740475 MLS
  • ACTIVE Status
Courtesy of KW Everett

Listing courtesy of KW Everett.

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Seattle image
Seattle $2,500,000

Rare opportunity to own auto shop with 5 bays and office space on a corner lot. Super High visibility from the street in the Rainier neighborhood. Also accessible on S My...

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  • 1736189 MLS
  • ACTIVE Status
Courtesy of KW Everett

Listing courtesy of KW Everett.

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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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