Homes of Central Florida
BANK OWNED REO HOMES
Foreclosed homes are available in all Central Florida communities including Windermere, Winter Garden, Oakland, and Clermont and at all price levels. These homes are often discounted significantly to enable a swift sale. I have experience selling and buying these properties in our local area. If you are interested in purchasing a foreclosed property, I can help.
Tips for Purchasing a Bank Owned Property:
1) Funding - It is imperative that you have your financing lined up before you begin. You must know how much you want to pay for the home and have the funds ready. If you don't you will not get an accepted offer. The banks really welcome cash buyers because they can close quickly. If you are financing you have to have everything ready with a well-known lender in order to compete. If you will be paying cash you will need a proof of funds statement submitted with your offer.
2) Define what you are looking for - It is important to follow the new listings for homes, condos, or townhomes that meet your criteria daily.
3) Contact a REALTOR - It is best to find a REALTOR who will stay on top of the new listings for you. If you try to do this yourself, the delay may mean that you miss the opportunities. You can have your REALTOR send you email updates daily, as well. Contact me at Lorraine@HomesCentralFL.com or 407-267-3268.
4) Do Not Delay - Once a home becomes available that meets your criteria, tour it right away. Often these opportunities are snatched up quickly.
5) AS IS - The banks sell the property as is. That means that the seller will not fix any problems with the property.
5) Addendum - The bank usually accepts the offer by sending an addendum that stipulates their terms. You have to sign your agreement to the addendum before there is an accepted contract.
Remember, the banks really need to get rid of these properties and they are taking a significant loss.
This situation should normalize once the "bad loans" have gone through the foreclosure process and been sold.
Those who delay will miss out!
Helping You Buy and Sell Your Home in Central Florida
West Orange County: Windermere, Winter Garden, Oakland
South Lake County: Clermont, Montverde
Lorraine Burch
Real Estate Agent, TRC
REALTOR, e-PRO, GREEN
Direct (407) 267-3268
Lorraine@HomesCentralFL.com
Your Friend in Real Estate
Avalar Real Estate Services
17301 Pagonia Rd, Suite 300
Clermont, FL 34711
Main Office (352) 242-3939
Fax (352) 242-3995
Toll Free 888-242-3939
www.AvalarinClermont.com
