Home Buying in Ocala>Question Details

Victor Duque, Both Buyer and Seller in Cape cod, MA

We are selling our Cape Cod home and relocating to Ocala, FL near family. Any advise on Bank owned or?

Asked by Victor Duque, Cape cod, MA Wed May 14, 2008

Foreclosed homes. Looking for 2500 sq ft home on one acre. Any advise where to begin. Contact me at v.duque@comcast.net Much appreciated, Victor

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I would suggest that you use a relocation company such as Cendant Mobility to find a REALTOR. These are real estate agents that have went through background checks, and a vigorous training session as well as other strenuous requirements before being accepted to a relocation team. These are teams of agents located in every city in the United States and abroad and they are here to serve all of your needs. There are agents within this group that specialize in these types of properties and would be able to give you the expert advice that you need to get the best deal on the best home. Remember that foreclosed homes often have hidden damage that disgruntled ex owners have inflicted and you need this expertise to make sure that these hidden damages are discovered/remedied before you invest. If you are interested in being referred to one of these agents please contact me. Debra Barker, Broker Associate Century 21 Properties Plus
1 vote Thank Flag Link Wed May 21, 2008
Hi Victor,

I am a Realtor with Coldwell Banker Riverland Realty in Dunnellon, Fl. I am an expert on properties in the western part of Marion County. We have a lot of inventory in our area, so finding a home at a great price would be no problem at all. Dunnellon is quite a bit smaller than Ocala, but is only 20 minutes to the west. I would be happy to send some information on properties in the area if your interested. We are also only about 20 minutes from the Gulf of Mexico and the town of Crystal River. We have two beautiful rivers, plenty of shopping, and lots of golf courses without all of the traffic.

The only problem with Bank owned homes is that they tend to take a long time to respond to an offer. In some cases up to 2 months. You can get a great deal on a bank owned home, however. You would just need to be patient when an offer is submitted. In this area there is so much for sale, that you will find great prices on most homes. I'll send you an email with more info.

Jim Frasier
Coldwell Banker Riverland Realty
0 votes Thank Flag Link Thu Jun 5, 2008
Find a good real estate agent that will do the legwork for you. Most banks list their own properties with a Realtor, rather than dealing with buyers themselves, and having your own agent to represent you can be very valuable. Bank Owned properties are sold as-is, so there may be repairs needed, and you'll need to be pre-approved or have proof of available funds for cash before making an offer. Most banks will have their own contract addendums that have to be made part or the purchase contract, too, another reason that representation is a real plus.
0 votes Thank Flag Link Wed May 21, 2008
Every thing has it good and bad points.......True you might find some good value but it comes at an expense. There are absolute horror stories about people being strung along and being left in the dark, only to find they did not get the property.

This entire process in not one that fashions integerity or fairness and resembles exploitation of the customer. For some people there are too many hurddles to warrant this initiative.

The best values are clean deals involving privately owned homes purchased pre-2003. These people purchased when the market was right and can affort to sell for less. From our stand point, a truly motivated seller from this group represents a better opportunity than a bank owned property.
Good luck,
The "Eckler Team"
0 votes Thank Flag Link Thu May 15, 2008
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