Buyer for foreclosures, what is the best way to approach if not on the MLS?

Asked by Marianne LeBar, Longboat Key, FL Fri Dec 28, 2012

Help the community by answering this question:

+ web reference
Web reference:


Ron and Susan…, Agent, Bradenton, FL
Wed Jan 9, 2013

Do you have a specific property in mind or was this a general question?

If the property is abandoned the bank still has to go thru the foreclosure process, which means the home could be tied up for as much as a couple of years before the bank has legal title and can sell it.

If you don't have a specific property in mind, then you could try the Sarasota County Clerk's office. I believe they provide a daily list of foreclosure sales. However, this doesn't seem to be a popular choice for investors, as the majority of the properties are reclaimed by the lending institution who holds the mortgage.

Our company works with several of the banks who list foreclosed properties. If you would like to contact me I would be happy to let you know when we are getting potential listings (before they are listed on the MLS) that meet your criteria.

Hope this helps!

Ron and Susan Noce, Realtors
Key Realty, St. Armands Circle, Inc.
Mobile: 941-518-3954
0 votes
Annette Law…, Agent, Palm Harbor, FL
Sat Dec 29, 2012
There are many options.
The right option depends on your situation.
Your situation can only be assessed with a meet up.
The reality may be, for you and your situation, making this purpose is IMPOSSIBLE!
However, there are options.
Such professional guidance is worth the fee required.
Sometimes the fee is only a phone call.
Like always, you do have choices. One choice is to call a LongBoat Key real estate professional who has multi-dimensional services and knows more than 2 ways to buy a home.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420. 4041
0 votes
Robert Paque…, Agent, Bayside, NY
Fri Dec 28, 2012
First do you know for certain that it has been foreclosed or what stage it is? Is the owner still occupying? Can you speak to the owner?
0 votes
Ron Thomas, Agent, Fresno, CA
Fri Dec 28, 2012
This would be like shadowboking:
Who are you going to buy it from?
You don't know who at the Bank is responsible for that Property, no one will tell you, no one will answer you.
Some people think that they will get a better deal if they can deal directly with the Bank:
Some Banks use intermediaries to LIST and SELL foreclosures.
Some Banks deal directly with their list of Realtors.

In the case of Shortsales, the Listing Agent has to submit a letter to the Lender, from the Homeowner, which authorizes the Realtor to work with the Bank, on their behalf, so that the Bank will communicate with them.
0 votes
Terry McCarl…, Agent, Cape Coral, FL
Fri Dec 28, 2012
It is next to impossible to buy a bank owned property if it has not been listed. Those that are successful doing so are usually buying a "package" of multiple homes from the same bank and paying cash.
0 votes
Search Advice
Ask our community a question
Home Buying in Longboat Key Zip Codes

Email me when…

Learn more