Foreclosures in Lake City 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 Lake City, check back daily for new listings.
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Lake City, Seattle
Lake City was born when a railroad worker hung a sign saying "Lake City" near the tracks of the Northern Pacific Railroad. The name stuck, and Seattle adopted Lake City in 1957. Car dealerships, strip malls and gas stations sprang up in the area, mostly on the busy thoroughfare of Lake City Way. There are many new condos in the Lake City neighborhood, as well as affordable homes in the residential areas.
Our exclusive Local Market Research helps you make more informed decisions. Each week we publish market updates for Lake City. 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 Lake City based on zip code 98125.
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