St. Louis Short Sale & REO Condos

We've all heard the terms "Short Sale" and "Foreclosed/REO" mentioned in real estate circles these days.  It's a sad fact that many St. Louis condo and loft owners have found that the value of their home has declined far below the amount they currently owe on it.  If they can afford the payments and can wait until the value comes back they'll be able to ride out this cycle.  However, if they are forced to sell during this time they risk a short sale or REO.

What is a Short Sale Condo?

Sometimes, to avoid a foreclosure, banks will let owners sell their condo for less than they owe.  The bank takes the proceeds of the sale and allows title of the property to transfer to the buyer.  The seller is usually not off the hook though, as the bank will still hold them liable for the difference.  The bank has the final say about whether or not they will accept an offer on the property; the seller cannot make that decision.  That's why you'll often see verbiage like "Short sale - subject to lender approval" in the property description.  These closings can take a while, but if buyers are patient they can purchase these condos for a fair price.

Available Short Sale Condos in St Louis

Price, High to Low
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9 Properties Found.
Photo of Listing #17023895
  • Contingent Short Sale
  • $169,900
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  • MLS® #: 17023895
  • 2058 King Arthur Ct
  • St Louis, MO 63146
  • 2 Bed, 3 Bath, 1636 SqFt
Photo of Listing #17010571
  • Active
  • $113,000
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  • MLS® #: 17010571
  • 1829 Misty Moss Dr
  • St Louis, MO 63146
  • 2 Bed, 2 Bath, 1120 SqFt
Photo of Listing #17090662
  • Contingent Short Sale
  • $110,000
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  • MLS® #: 17090662
  • 1055 Pinegate
  • St Louis, MO 63122
  • 3 Bed, 3 Bath, 1672 SqFt
Photo of Listing #17074177
  • Contingent No Kickout
  • $94,900
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  • Lucas Lofts
  • MLS® #: 17074177
  • 1113 Washington Unit 710
  • St Louis, MO 63101
  • 1 Bed, 1 Bath, 1133 SqFt
Photo of Listing #16001092
  • Contingent Short Sale
  • $75,000
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  • MLS® #: 16001092
  • 1621 S 11th Unit A
  • St Louis, MO 63104
  • 2 Bed, 1 Bath, 1128 SqFt
Photo of Listing #17088026
  • Active
  • $69,900
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  • MLS® #: 17088026
  • 1911 Marine Terrace Unit D
  • St Louis, MO 63146
  • 2 Bed, 1 Bath, 868 SqFt

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