In a foreclosure situation, the Lender (Bank or financial institution) has repossessed the property due to non-payment of a loan against the property.  Title (ownership) for the property transfers to the Lender.  When it is listed for sale, the Seller is the lender.  Generally, lenders do not want to hold real estate and be responsible for the ongoing ownership costs and therefore, they price them very competitively, to sell quickly.

Unfortunately, as you may have seen in the media, foreclosures are a way of life in this area of Florida.  However, this means there is a great opportunity to buy a home at a discounted price. 

If you are considering buying a foreclosure, please contact me and I would be happy to help.  The timescales and process can be very different from a regular purchase and make it even more important to use a Realtor to help you buy the home, to ensure that your interests are protected.

Some of the areas to be addressed with a foreclosure include: timescales, condition of home, bank contracts, cost of repairs, inspections, title costs, competitive bids etc.

I can help you through the process.

Contact me via the form below for a list of foreclosure properties in the area.  Be sure to specify your requirements (price, location, type of home etc).