House Hunting
Postado por Robert Hahn em Açores forum
I think what Kevin is referring to is what we call in the US a "short sale" where the owner sells a home for less than what they owe. While the property is still owned by the lender the bank has agreed to accept offers for what is owed. While a foreclosure normally is a property that is taking over by the bank normally because of default payments; it may or may not be "short". My advise to anyone coming to the Azores or mainland Portugal is to have enough in savings to secure your dream home. Relying on the banks here in Portugal for financing can take a long time and then you are not guaranteed to be approved for a loan. I would also suggest renting a place first to discover what the areas around your dream location have to offer.