Edina Realty REALTORS ^® can help you find foreclosure listings in Edina neighborhoods, on everything from starter homes to upper bracket properties. While there may not be many properties in foreclosure at any given time, careful planning and watchfulness may help you to find your dream home and dream neighborhood.

Edina foreclosures are homes that have been repossessed by a lender due to missed mortgage payments. The lender owns the property and prepares to sell it after the foreclosure process is complete, which typically leads to a lower selling price and the opportunity to purchase properties for less money.

With short sales in Edina, homeowners ask their lender to take less money than is currently owed on the home, resulting in a short sale price that is lower than the amount required to pay off the remaining mortgage balance and costs of the sale. Because there is a significant amount of negotiating between the homeowner and lender involved in Edina short sales, it may take several months to complete the sale of the home.  Learn more about buying a short sale home.

In both Edina foreclosures and short sales, you can find beautiful homes. Some may be in pristine condition, while others may need repair or renovation. Keep in mind that foreclosures are sold as-is, so the costs of refurbishing a property will come out of your housing budget.