Its no secret that Florida is one of the most widely coveted states in regards to lifestyle.
This is the fifth tip in our series: â€œ12 Tips for Buying Real Estate in Southwest Floridaâ€ which is also available as a free eBook at www.AckermanSWFL.com/ebooks/.
Beaches galore and beautiful weather throughout the majority of the year are only a few reasons why tourists from all over the globe flock to Southwest Florida for vacations. The quality of life on Floridaâ€™s Gulf Coast is second to none. You may have thought that purchasing a home along Floridaâ€™s Gulf Coast was beyond your reach. Thatâ€™s not the case any longer.
REO or real estate owned short sales and foreclosures can be great deals for investors or owners. REO foreclosures can be very competitive for homes that will usually be priced significantly lower than the market value.
Here are three tips for buying a short sale or foreclosed home:
1.Understand the value of the short sale or foreclosure. Find out what the bank paid for the property deed and weigh it against the asking price.
2.Determine whether or not it is truly a good buy. What are the comparable sales listed at?
3.Look at what else is out there. Not all foreclosures are the best buy. Do some looking around before you settle on one foreclosure in particular. In this market there are many to choose from.
Basically, the more steps you take to show the bank that youâ€™re a serious and qualified buyer, the more likely the bank will accept your offer over the others.
In our free eBook 12 Tips to Buying Real Estate in Southwest Florida, you can find 3 additional tips to use when you consider buying a short-sale or foreclosure.
Contact us today if youâ€™re seriously looking to purchase a short sale or foreclosure in sunny Southwest Florida!
Not sure why there would be closing costs of "thousands" I just bought (about 2 miles South of Cedar Bend) at $42,000 (cash) and my closing costs were approximately $500... I am not a realtor, so I can say this... look into Cedar Bend before you buy. There is a huge number of "renters" vs :owners living in that complex and needless to say, it can be a bit rough around the edges.... more