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Foreclosure Property Search

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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

29 Dwyer Place, Torrington image
29 Dwyer Place, Torrington $244,900

Create lasting memories in this classic brick storybook Cape nestled in the heart of Torrington. This cute and cozy home has been updated & offers many great features suc...

  • 3 Beds
  • 1 Baths
  • 170599250 MLS
46 Hart Street, Watertown image
46 Hart Street, Watertown $99,900

5 room, 2 bedroom ranch style house. One car garage under.

  • 2 Beds
  • 1 Baths
  • 170597944 MLS
99 Edward Avenue, Watertown image
99 Edward Avenue, Watertown $359,900

This remodeled ranch has 5 rooms, 3 bedrooms, 1 bathroom and 1 car garage. Kitchen that opens into living room has new granite countertops with stainless sink, new white ...

  • 3 Beds
  • 1 Baths
  • 170597700 MLS
49 Nelson Street, Torrington image
49 Nelson Street, Torrington $176,800

A great opportunity for homeownership! This Torrington ranch is located in a residential neighborhood close to local amenities. It features a large living room and three ...

  • 3 Beds
  • 1 Baths
  • 170596668 MLS
61 Oxford Way, Torrington image
61 Oxford Way, Torrington $225,000

A must see Torrington Colonial. Located in a quiet neighborhood, this home needs your vision to turn it into a neighborhood gem. Upon entering you are greeted by a large ...

  • 3 Beds
  • 2 Baths
  • 170595596 MLS
143 Mountain Road, Winchester image
143 Mountain Road, Winchester $289,900

This Fannie Mae home has been all remodeled and ready for you. The home has a new roof, all new siding and PT deck. The interior has a new kitchen with Granite tops and s...

  • 2 Beds
  • 1 Baths
  • 170594705 MLS
45 Beach Street, Winchester image
45 Beach Street, Winchester $170,000

Great investment opportunity for this two family located on a corner lot with 2 car garage. Enjoy relaxing on the back deck or front porch. Each unit features living, din...

  • 4 Beds
  • 2 Baths
  • 170593589 MLS
355 Segar Mountain Road, Kent image
355 Segar Mountain Road, Kent $269,000

Outstanding opportunity for a buyer with vision! Renovate this home, select your finishes and build equity. Private setting on 1.4-acre lot. Explore Kent Falls State Park...

  • 3 Beds
  • 2 Baths
  • 170592271 MLS
113 Cannon Ridge Drive Unit 113, Watertown image
113 Cannon Ridge Drive Unit 113, Watertown — Artillery Hill $237,600 ▼

Beautfiul condo in in well kept complex. Townhouse style condo with great layout and generous sized bedrooms. With your updates and touch it can be the perfect home.

  • 2 Beds
  • 2 Baths
  • 170585067 MLS
  • Artillery Hill Bldg.
288 Cathole Road, Litchfield image
288 Cathole Road, Litchfield $200,000 ▼

Cape style Home-6 Rooms-4 Bedrooms-1 Full Bathroom according to Assessor Street card. Living Room, Kitchen, 2 Bedrooms, Full Bathroom all located, Main Level. 2 additiona...

  • 4 Beds
  • 1 Baths
  • 170590485 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.

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Cohen Agency SiM, LLC
535 Main Street, P.O. Box 1003, New Hartford, CT 06057
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