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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

3 Gray  Lane, Goshen image
3 Gray Lane, Goshen $560,000

Classic New England home in the country. This four bedroom, two full and one half bathroom home features a wrap around deck and a screen porch to enjoy the beautiful view...

  • 4 Beds
  • 3 Baths
  • 170571660 MLS
15 Lockwood  Drive, Watertown image
15 Lockwood Drive, Watertown $284,900 ▼

Move right in to this lovely 3 bedroom split level, set on a corner lot. First floor includes living room w/carpeting and dining area with hardwood floors, along with eat...

  • 3 Beds
  • 2 Baths
  • 170566564 MLS
18 Quadrato  Drive, Watertown image
18 Quadrato Drive, Watertown $384,400 ▼

Built in 2005, this two story home, offers 3 bedrooms, 2 1/2 baths, partially finished walk-out basement, 2 car attached garage, with ~2,280 sq ft of living space on +/- ...

  • 3 Beds
  • 3 Baths
  • 170563762 MLS
203 Willow  Springs Unit 203, New Milford image
203 Willow Springs Unit 203, New Milford — Willow Springs $155,800 ▼

Welcome to the Willow Springs complex! This ranch style unit has 840 sqft of living space with 1 bedroom and 1 full bath. When you walk into the unit you'll be greeted by...

  • 1 Beds
  • 1 Baths
  • 170562345 MLS
  • Willow Springs Bldg.
34 Jackson Hill  Road, Sharon image
34 Jackson Hill Road, Sharon $560,000 ▼

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
101 South  Street, Roxbury image
101 South Street, Roxbury $1,150,000 ▼

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 $279,900 ▼

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
85 Brightwood  Avenue, Torrington image
85 Brightwood Avenue, Torrington $45,000

Centrally located colonial. This home features large living room, dining room both with hardwood flooring. Central air and gas heat make heating and cooling economical. W...

  • 2 Beds
  • 1 Baths
  • 170490543 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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