“I’ve seen some San Diego homes advertised as ‘corporate owned.’ What does that mean exactly?”
There are two likely explanations:
First, when larger companies relocate a new or existing employee away from San Diego, sometimes they help by having a relocation company purchase the San Diego home, then resell it. My understanding is that if it resells for more, the employee gets the profit.
Second, and more likely, it’s a foreclosure. Some of my bank-clients won’t let me say “foreclosure” or “REO” in my marketing of their San Diego real estate because they feel people will expect to pay less for the home. But they will let me say “corporate owned.”
San Diego short sale expert Gary Kent has written the book on short sales. Gary would like to offer the San Diego Short Sale Guide to you for free – Short Sale Guide.
To find out how much your San Diego home is worth compared to owe much you owe, go to www.ShortOrStaySanDiego.com
The Gary Kent Team 858-457-5368 of Keller Williams is a California Real Estate Broker, License 00862878. We are not licensed to provide legal or tax advice and we encourage our clients to seek legal and/or tax advice early in the short sale process.
by Gary Kent. Gary has successfully helped well over 200 clients and their families sell their homes or other real estate via a short sale. In 1991, he closed his first short sale for a young family, and since has been helping clients get out of stressful financial situations, escape from “under water” mortgages, avoid foreclosure (and the accompanying stigma), save their credit, and maintain their pride through a short sale. You can find Gary on Facebook, Twitter and Google+.