foreclosure Bank Owned
$44,472 (Market Value)

Cherrylawn Street, Detroit MI 48221

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Cherrylawn Street, Detroit MI
Market Value:
$44,472
(What's this?)
Bedrooms:—
Bathrooms:3
Property type:Single-Family Home
Size:1,716 sqft
Year built:1928
Added on site:92 days ago
Total views:6 (as of 5/22/12)
Nearby School:Bagley Elementary School
Neighborhood:Bagley
Zip:48221
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Description provided by Realty Trac
Bank Repossessed. This property has completed the foreclosure process and is now owned by the foreclosing lender, which took title to the property for an estimated consideration (loan balance plus other fees and costs). Foreclosing lenders are often motivated to sell bank-owned properties (also known as REO, or Real Estate Owned) quickly because they are non-performing assets. Please register for a free trial with RealtyTrac to access complete information for this property, including full address, foreclosure details, lender information, and more.  View our Foreclosure Guides

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Foreclosure Types

Pre-Foreclosure
Auction
Bank Owned
 

Bank Owned (REO):

A property becomes a full-fledged foreclosure — sometimes referred to as a Real Estate Owned (REO) property — when it is repossessed by the foreclosing lender. The lender can take possession either through a deed-in-lieu-of foreclosure agreement with the owner during the pre-foreclosure period or through a winning bid at the public foreclosure auction. Foreclosing lenders are often motivated to sell these properties quickly because they are non-performing assets for their bottom line. Of the three stages of foreclosure, REOs are most likely to also be listed for sale with a real estate agent on the MLS, but not all REOs are listed yet — meaning buyers may have to contact the lender or servicer directly to make an offer. Read more about Bank Owned Foreclosures »

Foreclosure Guides

Buying bank-owned properties

If a lender takes ownership of a property, either through an agreement with the owner during pre-foreclosure or at public auction, the lender will usually want to re-sell the property to recover the unpaid loan amount. Check out the tips below to find out...

By RealtyTrac | 81 Comments

Beware of Hidden Costs

Liens not cleared by the auction are the buyer's responsibility. If you buy a property at a foreclosure auction, you may end up forking out more than just the winning bid amount to own the property free and clear. That's because some debts attached to the...

By RealtyTrac | 13 Comments

Secrets to closing last-minute pre-foreclosure deals

If you're interested in investing in pre-foreclosure property, you should know that owners in default may not agree to sell until the last minute — sometimes only a few days before the public foreclosure auction. You'll need to act quickly and may even...

By RealtyTrac | 11 Comments

View all foreclosure guides »

Contact Info for Cherrylawn St

Agent:
Not available
Listing website

Location Information near Cherrylawn St

Property
Estimates
Schools
Amenities
Transit
$1,099,500
4 br / 2 ba
Single-Family Home
OPEN HOUSE Sun Oct 16, 2pm to 4pm
Type GreatSchools Rating Distance
Schools in Detroit Public School District
Nearby Schools
No public schools where found for this property and grade level.
Bagley Elementary School View Homes Public 4 0.4 mi
Mumford High School View Homes Public 1 0.4 mi
Schulze Elementary School View Homes Public 2 0.7 mi
Fitzgerald Betune Elementary School View Homes Public - 0.7 mi
Palmer Park Preparatory Academy View Homes Public - 1.0 mi
Aisha Shule/web Dubois Academy View Homes Public 2 1.5 mi
Schulze Elementary School View Homes Public 2 0.7 mi
Fitzgerald Betune Elementary School View Homes Public - 0.7 mi
Martin Luther King Junior Eca View Homes Public - 0.9 mi
Palmer Park Preparatory Academy View Homes Public - 1.0 mi
Aisha Shule/web Dubois Academy View Homes Public 2 1.5 mi
Aisha Shule/web Dubois Academy View Homes Public 2 1.5 mi
Randolph Career and Technical Center View Homes Public - 1.8 mi
Renaissance High School View Homes Public 10 1.8 mi
Detroit City High School View Homes Public - 2.8 mi
Private Schools
No private schools where found for this property and grade level.
Open Door Montessori Academy View Homes Private - 0.4 mi
Cornerstone Charter Lincoln King View Homes Private - 1.2 mi
Muhammad University Of Islam View Homes Private - 1.5 mi
Children's Village Intl Center View Homes Private - 1.6 mi
A Step Ahead School View Homes Private - 1.8 mi
Univ Detroit Jesuit High School and Academy View Homes Catholic - 0.9 mi
Cornerstone Charter Lincoln King View Homes Private - 1.2 mi
Muhammad University Of Islam View Homes Private - 2.2 mi
St Scholastica School View Homes Catholic - 3.3 mi
St John Lutheran School View Homes Private - 3.8 mi
Univ Detroit Jesuit High School and Academy View Homes Catholic - 0.9 mi
Loyola High School View Homes Catholic - 1.3 mi
Muhammad University Of Islam View Homes Private - 2.2 mi
S A A Beth Jacob School For Girls View Homes Private - 4.2 mi
Alderbrook School View Homes Private - 5.0 mi
indicates schools assigned to this home. School data provided by OnBoard Informatics. Boundaries provided by Maponics.
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