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Asked by susanpreston777, Safety Harbor, FL Fri Feb 22, 2013

This question was removed by its author.


Pamela Cohn, Agent, Clearwater, FL
Sat Feb 23, 2013

This property is actually pending/under contract. It appears to have gone to auction. From what you saw and your physical reaction this would not have been a good choice for you regardless of price.

As for auctions...buyer beware, as a bank owned property there will be no disclosures avaialbe. The lender handling the case may not even be in this state. When purchasing at auction, the Buyer is paying the auction company a premium 5-15% of the sale price (aka the auction company's commission) with a hefty deposit at the day of auction. If for some reason you do not close, don't expect to get either back. This is why is is so important to do all your investigating prior to the auction...and why so many avoid them.

The market is swinging back. If you are serious about buying before the prices climb higher, interview full time professional realtors, find one you are comfortable with and sit down and make a plan together to meet your needs. Inventory is low and demand is growing. The ready Buyer is the one who gets the deals. If you think its a good deal, you can be sure you are not the only one who thinks so. If you are not ready ( have been pre-approved or have current proof of funds) and the other Buyer may not even get the opportunity. If you need to find lenders, your agent can help you. You need to customize your search so you get updates as they come on the market, again your agent can help you. Start interviewing and find the right agent for you and good luck!

I feel an informed client makes the best decisions regarding their real estate needs. Let me know if I can be of assistance.


Pam Cohn
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761
0 votes
Annette Law…, Agent, Palm Harbor, FL
Sat Feb 23, 2013
Sounds like opportunity knocking.
Opportunity may look like 20 to 40% of value.
Your statement suggests your are looking to buy the 'prom queen' instead of the profit maker.
That is what is so marvelous about real estate, there's something for everybody.

Best of success to you,
Annette Lawrence, Broker/Associate
Reamx Realtec Group
Palm Harbor, FL
Movie Tour
0 votes
Bill Eckler, Agent, Venice, FL
Sat Feb 23, 2013
AND your question is?

Sure sounds like one that you should avoid!
0 votes
Rachel Fries…, Agent, Clearwater, FL
Fri Feb 22, 2013
That is too bad! I'm also running into lots of mold issues, especially with REO properties. I'm highly allergic to mold and try to stay away when I see mold. Someone needs to hold the sellers accountable, even if they are banks and are not required to give disclosures. The property managment companies act on their behalf, so they are not absolved of liability.
Rachel Friesema
0 votes
Wayne Collier, Other Pro, Bowling Green, FL
Fri Feb 22, 2013
A thorough inspection should be used to document current conditions
0 votes
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