Provincetown Foreclosures

Are you searching for foreclosure or short sale listings in Provincetown? Your first step should be to research homes in the area to get the most up-to-date information about available properties. The best way to get information about the newest listings it to sign up for free access to our website. When you sign up for access to Boston City Properties extensive database of available single-family homes, duplexes, condos, or townhomes, you'll be able to check up-to-the-minute listings for communities all over the Cape.

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We can put you in contact with professionals in the real estate industry with the expertise to guide you through the buying process and handle any concerns you may have. Although you can save a great deal of money on a foreclosed property, it's important to be cautious and get all the relevant information about the property you want. Always work with a real estate professional with experience in guiding clients through the process of buying bank-owned or REO properties. A few important tips to keep in mind when you're searching for Cape properties:

• Have the home inspected
• Identify likely properties
• Get Pre-Approved
• Pay Cash

A home inspection is relatively inexpensive and can save you a great deal of money. Homes are sold "as is," and if you find a major problem after you close on the property, you have no recourse, and could potentially have to spend a lot of money on expensive repairs. If you want the lender to seriously consider your offer, take the initiative and get pre-approved for a loan before you even start searching for the home you want. If you're in a position to pay cash for the home, the lender will know you're serious about your offer, and you could save money on the transaction. Don't waste valuable time sorting through hundreds of listings. You may miss the perfect opportunity. Sign up for Boston City Properties listings for the most accurate information.

At any given time, the small community has approximately 70 homes on the market including those up for auction, in pre-foreclosure, bank-owned, or short sales. The median listing price is $482,250, and the price per square foot is $730. The median rent is $24,000 per month, making the homes, condos, and townhouses an excellent investment.

Short Sales

When a homeowner owes more on their home than it's worth, the best solution may be a short sale. In some cases, the seller is relocating and must sell the home quickly. A short sale occurs when the lender forgives the remaining mortgage debt and allows the owner to sell the home for a lesser amount. A short sale gives the owner the opportunity to be free of debt with less impact on their credit score. Once the sale is complete, the seller may be able to buy another home within two years. A short sale is a better alternative than a loan modification most homeowners which offers a temporary solution to the financial problems.

Short sales are the preferred method of selling a distressed property over the alternatives; mainly because the sale is less expensive than other ways of selling a property. Homeowners that opt for a short sale usually don't qualify for a loan modification. In Massachusetts, a homeowner may qualify for a short sale if they can prove a financial hardship that's involuntary. If you're interested in buying short sale properties as an investment, make sure to have a professional with extensive experience in this type of sale handle all the process. A short sale is more complicated than a conventional real estate transaction, and you want to cover all the bases.

Geographic Location

Provincetown is in Barnstable County on Cape Cod. The boundaries of the town include Route 6 to the north, Route 6A to the southwest, the town line of Truro to the east, and at the southernmost edge of town, Provincetown Harbor. The town is surrounded by water on three sides and has more than 21 miles of coastline. Cape Cod Bay is to the west and south, Massachusetts By is to the north and northwest, and the Atlantic Ocean is to the northeast.

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