Foreclosure in Delray Beach>Question Details

diamondgoil, Both Buyer and Seller in Boca Raton, FL

What does transfer value mean? How come I see properties for 1,000.00? What is going on? I am looking for a foreclosure price on a 3bd townhome

Asked by diamondgoil, Boca Raton, FL Tue Mar 6, 2012

Help the community by answering this question:


When you see homes in Delray Beach with transfer values of $1,000, you are possibly seeing the amount of money the bank paid in order to repossess that Delray Beach home.

The amount you will have to pay to purchase the house in Delray will be much, much more, because not only will you have to pay the overdue taxes and HOA fees, you will also have to pay off all or part of the remaining mortgage note.

In today's market, expect to pay above the asking price for your Delray Beach foreclosure, and expect to have to make repairs. Not every REO is a bargain. You may want to consider purchasing a home that is still controlled by the owner because it may turn out to be a far better value.

The quickest way to obtain a list of foreclosures in the area is to ask your Delray Beach realtor.

Marc Jablon, The Jablon Team
RE/MAX Complete Solutions
0 votes Thank Flag Link Wed Mar 7, 2012
The proeprty may have be en transferred for $1,000 to a new owner?
0 votes Thank Flag Link Wed Mar 7, 2012
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