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