Selling Distressed Property
Selling a property that is in distress presents a unique challenge, especially in the midst of the COVID-19 pandemic.
Distressed property encompasses a wide variety of situations. Commonly, in the real estate industry, distressed property is considered any property where the owner cannot make the mortgage, or related, payments. In actuality, mention of such is not just referencing financial problems. For example, a home could be considered in trouble could also include a property that has been vacant and vandalized, or has fallen into disrepair because the owner is not in a capacity to care for it.