Foreclosures in South Lake Union on SeattleHome.com are homes that are owned by a bank or lender. These are sometimes referred to as REO (Real Estate Owned), ORE, or bank-owned homes. Other foreclosures are sold at county auctions, which are riskier and require all-cash buyers.
In contrast, these bank-owned foreclosures are fairly straightforward and allow for bank financing. Even inexperienced buyers have access to bank-owned foreclosures. Our buyers have the option of an inspection period before closing the contract on a foreclosure. This allows the buyer a short-term "grace period" in case the property doesn't live up to their expectations.
If there are no foreclosures available today in South Lake Union, check back daily for new listings.
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South Lake Union, Seattle
South Lake Union is located just off the northern end of downtown Seattle. There are many kinds of homes available on and near Lake Union. Houseboats, floating homes, view condos, and traditional houses all line the streets around Lake Union. The lake connects Lake Washington to Puget Sound by way of the ship canal, a man-made waterway traversing from Lake Washington through the Montlake Cut, Portage Bay, Lake Union, and through the canal and Hiram Chittenden locks along Fremont and Ballard, finally emptying in to the Sound at Magnolia and Shilshole Marina. South Lake Union is experiencing tremendous growth in recent years from an influx of technology companies and new city developments as well as private residential construction.
Our exclusive Local Market Research helps you make more informed decisions. Each week we publish market updates for South Lake Union. You can see the latest trends in pricing, affordability, supply and demand. We invest in this research so our clients always have the latest insights to make the best decisions with confidence. Below are the latest home pricing trends for South Lake Union based on zip code 98109.
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