Sale Type Reference

Sale Type Description

None

Indicates the property has no special conditions of sale. The seller of the property has the authority to negotiate and accept price and terms.

REO

Indicates the property is owned by a bank or financial institution and was acquired through foreclosure proceedings. These properties are sometimes referred to as "repo" (repossession), foreclosure, and "REO" (Real Estate Owned) properties.

View all active REO/foreclosure listings for sale.

Short Sale

Indicates the property is being sold by a seller who will require the seller's lender(s) approval of the price and terms of a sale. If there is more than one lender (first and second mortgage), both lenders must approve sale terms. This situation occurs when the seller is unable to repay the principal balance(s) of the loan(s) and other outstanding encumbrances against the property upon the closing of the sale.

View all active short sale listings for sale.

Court Approval

Indicates the property is being sold by a seller who will require court approval for sale price and terms. Generally, the court hearing is scheduled upon the seller accepting an offer. The court proceedings are open to the public and typically subject to overbidding if there are additional interested buyers.

Relocation

Indicates the property is being sold by a relocation company or the terms of a sale are subject to a relocation company's approval. Many corporate relocation companies will purchase a property directly from the employee being relocated and subsequently sell the property.

Other

Indicates the property has some other type of condition of sale that may not clearly fit into the above categories. Examples can homes with special deed restrictions imposed by a local county or other organization (for example, income restrictions).