Sellitmike.com
  • Advanced Search
  • Featured Listings
  • Home Valuation
  • Rentals
  • Foreclosures
  • About
  • Real Estate News
  • Contact Us
Login
(860) 866-7470

Sign in to your account

Need to reset your phone number?

Don't have an account with us?

Click here to sign up.

Foreclosure Property Search

TO
Advanced Search

Foreclosures Properties

Foreclosure properties, or Real Estate Owned (REOs) as they are commonly known, are properties that have been taken back by the lender due to defaults on the underlying loans. Foreclosures often represent great bargains in the real estate market, but due to the record number of foreclosure homes in the system, many are in very poor condition. Buyers should pay extra careful attention when preparing to bid on these properties, and inspections by a qualified home inspection company are a must!

Many home buyers are uneasy at the thought of purchasing a foreclosure property, since they don't want to end up pushing a family that has fallen on hard times out on the street. However, these properties are almost always vacant, since the lender has already taken back possession of the property. And in most cases, neighbors of these homes will be really glad to see a new owner moving in, so the home can be brought back into shape and be properly maintained. Therefore, buying foreclosures not only represents an opportunity for a good deal, but it's also a very effective means of improving the community you'll be living in for years to come!

What's the Difference Between Foreclosures and Short Sales?

Many home buyers are often confused by the distinction between foreclosures and short sales. As mentioned above, foreclosures are properties that have already been taken back a lender. On the other hand, short sales refer to properties where the present market value of the home is less than the outstanding debt secured by that home. In such cases, where a property owner owes more than their home is worth, but still needs to sell for whatever reason, the seller has two choices. They can either sell the property for less than they currently owe and show up to the closing with cash for the difference (highly unlikely), or they can attempt to negotiate approval for a short sale from the lender, in which case the property is sold for the approved amount and the lender takes a loss on the remaining balance (the seller will typically have to pay income tax on the forgiven portion of their debt).

Click to search all foreclosures in this area.

Click to search all short sales in this area.

Short sales are tricky by nature and depending on several factors, such as the lender involved (as well as the number of lenders in cases where there is a 1st, 2nd, and sometimes 3rd mortgage in place) can take anywhere from a month to over a year to negotiate and finalize. Therefore, home buyers that have an urgent need to secure a new property quickly may shy away from trying to purchase a short sale, especially where the lender has not pre-approved a price.

Latest Foreclosures in Litchfield County

14 Berry  Street, Torrington image
14 Berry Street, Torrington $185,000

Check out this great investment opportunity! This 2 family boasts 2080sqft of living space, with 2 - 2 bed 1 bath units on seperate floors and also has a full basement an...

  • 0 Baths
  • 170546394 MLS
165 Sharon  Avenue, Torrington image
165 Sharon Avenue, Torrington $264,900

This fully remodeled cape has a lot to offer including new roof, new windows, and new gas heating system. Situated on a corner lot, this brick exterior house has two driv...

  • 3 Beds
  • 1 Baths
  • 170545685 MLS
15 Fairgrounds  Road, Woodbury image
15 Fairgrounds Road, Woodbury $595,000

Welcome to 15 Fairgrounds Road - Located off a quiet country road, in a highly desired cul de sac neighborhood, this classic Colonial is completed renovated and move-in r...

  • 4 Beds
  • 3 Baths
  • 170542335 MLS
95 Sunrise  Drive, Torrington image
95 Sunrise Drive, Torrington $175,900

Remarkable opportunity to own on Sunrise Dr with this spacious Cape Cod, offering over 1,300 square feet. Large kitchen area with grand living room with built in cabinetr...

  • 4 Beds
  • 1 Baths
  • 170542201 MLS
57 Buckingham  Road, New Milford image
57 Buckingham Road, New Milford $399,900

Tremendous opportunity awaits on Buckingham Rd, as this Classic Colonial style home is now available! Offering over 2,600 square feet with 3 bedrooms and 3 full baths. Ha...

  • 3 Beds
  • 3 Baths
  • 170540622 MLS
251 Riverside  Street, Watertown image
251 Riverside Street, Watertown $148,500 ▼

Ranch style home set close to town center. Spacious kitchen offers ample cabinet space, dining area & pantry. Bright living room features a cozy fireplace. Hardwood floor...

  • 3 Beds
  • 1 Baths
  • 170537871 MLS
34 Jackson Hill  Road, Sharon image
34 Jackson Hill Road, Sharon $599,900

Welcome to 34 Jackson Hill Road, recently remodeled retreat located within a mile from quintessential Sharon center. Upon approach, this ultra chic destination is ringed...

  • 3 Beds
  • 3 Baths
  • 170535836 MLS
72 Cottage  Street, New Hartford image
72 Cottage Street, New Hartford $69,900 ▼

INVESTORS TAKE NOTICE – Looking for a project? This house needs complete rehab or remove the house and start fresh! Good location and for the right buyer a great inves...

  • 2 Beds
  • 1 Baths
  • 170537698 MLS
101 South  Street, Roxbury image
101 South Street, Roxbury $1,495,000

Look no more! With over 38 acres of land and over 5000sqft of living space, this home will allow you to create your very own oasis! Perfectly configured for multi-generat...

  • 6 Beds
  • 6 Baths
  • 170535343 MLS
287 Litchfield  Road, Norfolk image
287 Litchfield Road, Norfolk $365,000 ▼

Re-introducing this charming Victorian with virtual highlights, showcasing the potential restored elegance. Sitting along Litchfield Rd., on over 1.5 acres of land, this ...

  • 5 Beds
  • 3 Baths
  • 170526416 MLS

The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2023 SmartMLS, Inc.

Like or Share
Loading likes...

Address Search

Popular Areas in Community

Looking for the perfect home in the perfect place? Chances are you'll want to check here first.

Litchfield County Real Estate

  • Barkhamsted
  • Goshen
  • Harwinton
  • Litchfield
  • New Hartford
  • Plymouth
  • Thomaston
  • Torrington
  • Watertown
  • Winchester

Hartford County Real Estate

  • Avon
  • Bristol
  • Burlington
  • Canton
  • Farmington
  • Simsbury

Recent Blog Posts

  • The Ultimate Guide To Litchfield County, CT
  • How To Get The Most Value Out Of Your Home
  • Everything You Need To Know When Selling Your Home In New Hartford, CT
  • The Ultimate Guide to Living in Burlington, CT
  • The Ultimate Guide To Moving To New Hartford, CT

  • Home
  • Advanced Search
  • Featured Listings
  • Rentals
  • About
  • Foreclosures
  • Contact Us

Mike Gregor | Realtor®
Cohen Agency SiM, LLC
535 Main Street, P.O. Box 1003, New Hartford, CT 06057
Tel: (860) 866-7470 | e-mail: mike@sellitmike.com

Licensed Real Estate Broker in Connecticut
Property listing information is updated daily.
© 2023 SellitMike.com. All Rights Reserved.

  • Avon
  • Barkhamsted
  • Bristol
  • Burlington
  • Canton
  • Farmington
  • Goshen
  • Harwinton
  • Litchfield
  • New Hartford
  • Plymouth
  • Simsbury
  • Thomaston
  • Torrington
  • Watertown
  • Winchester
  • All of Litchfield County
IDX Real Estate Websites by
• Accessibility • Terms • Privacy