Foreclosure in Cape Coral>Question Details

Billy73, Home Buyer in Cape Coral, FL

Foreclosure South-West Florida

Asked by Billy73, Cape Coral, FL Wed Jun 17, 2009

I'm a foreigner looking to buy a holiday house in SW Florida. For me it seems the best way would be to buy a foreclusure. Can anyone help me explain how the whole thing works?

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Answers

9
A good mortgage broker or loan officer should be able to give you the details.Ask for a referral. Contact lenders in your area.





Check if you qualify for a mortgage. Try http://www.whywaitbuytoday.com
0 votes Thank Flag Link Sun Aug 18, 2013
Hi Billy

I am happy to do so, please contact me directly at your convenience either by phone or e-mail.


Kevin Cloutier
Keller Williams World Class Realty
239-246-6639
Kevin@kevincloutier.com
0 votes Thank Flag Link Sat Sep 12, 2009
Contact me directly and I can explain the whole process to you. Please visit my website at
http://www.myswfloridahome.listingbook.com/. This website will allow you to view the many homes that SW Florida has to offer.

Thanks

Don McBride
titletown07@comcast.net
239-823-8692
0 votes Thank Flag Link Sat Sep 12, 2009
Hi Billy,

Thats what we are here for! Please feel free to contact me directly to discuss.



Kevin Cloutier
Keller Williams World Class Realty
239-246-6639
0 votes Thank Flag Link Sat Sep 12, 2009
Hi Billy
Please contact me to further discuss your needs, I do have bank owned properties in Cape Coral, listed for quick sales.
Samir
239 573 6529
samzman@kw.com
0 votes Thank Flag Link Wed Jun 17, 2009
You might want to check http://www.foreclosuresUs.com. Many of these homes are owned by banks who list them with real estate agents. These agents know of many homes up to a week prior to them going on the lists. Call them. They will be happy to help, but be ready to move quickly.
0 votes Thank Flag Link Wed Jun 17, 2009
Foreclosure transactions are very similar to traditional transactions with the key difference being that the seller is a bank rather than a private owner. Each bank seems to have a different set of paperwork for you as the buyer to sign off on during the offer process.

It is important that you have your financing or proof of finds in place prior to making an offer on a foreclosure property. Also as homes going into foreclosure sometimes get abused by former owners or tenants and can sit vacant for long periods of time, it is extremely important to hire a qualified home inspector.

Here is a resource to view all the active foreclosure listings in Cape Coral: http://www.greaterftmyers.com/cape-coral-foreclosures.php

Good luck with your search!
0 votes Thank Flag Link Wed Jun 17, 2009
Hi Billy,
Foreclosures are very good buys. They are priced to sell, the bank gives you an answer quickly. However there is a lot of activity with buyers now and most have more than one offer on them. Some times you have to pay over asking price to get one. You need to work with a realtor and have a lot of patience. These homes are sold as is with right to have an inspection done. As your realtor get to know what you like in a home they can help you find one as soon as it comes out on the market. I live in the Cape and can help you. I work with a team and we cover from North Port through Ft. Myers. Let me know if we can help you.
Carlyn Walton
239-222-0906
cwalton771@aol.com
0 votes Thank Flag Link Wed Jun 17, 2009
Billy,

A foreclosure purchase is very similar to a traditional purchase with the exception of the fact that you are working with the bank as the owner. The bank may request that you use this forms and provide proof of funds for the purchase.

The best place to begin the process is to be in touch with a real estate professional that can point you in the direction of sample properties and get you set up to make an offer.

We are familiar with the RE market between Sarasota and Punta Gorda and would be delighted to support your interests.

Good luck,
Susan & Bill Eckler

Michael Saunders & Company
billeckler@michaelsaunders.com
941-408-5363
0 votes Thank Flag Link Wed Jun 17, 2009
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