Recent statistics by RealtyTrac revealed that 1 in every 1924 homes in Florida is a foreclosed property. Although the number of pre-foreclosures, houses sold in auctions, and bank-owned properties have decreased by as much as 50% compared to the previous years, foreclosure trends in Florida are still going strong.
Hence, if you’re looking for Florida foreclosures, you can easily come across one provided that you did your research well. Here are some tips you can use to help you find foreclosed properties in the state:
- Search in Bank Websites
Most banks will list their foreclosed properties online. For example, the Bank of America will post residential listings including foreclosed properties in a number of states. From there, you can find most of the important details you need such as the price, home description, photos, and the contact information for each representing agent. While bank websites are a valuable resource, the listings are usually limited.
- Seek a Real Estate Agent
A real estate agent is the one with the most extensive knowledge when it comes to available Florida foreclosures. He also has a wide network that will help make your search for foreclosed properties a lot quicker and more efficient.
You simply need to look for a reliable agent in your area and work with him. However, you should be prepared to spend money for his services.
- Visit Auction Companies
Auction companies are yet another valuable source of information for foreclosed properties within Florida. They normally hold huge auctions, sometimes offering up to 100 homes or even more in just a single day. However, auction companies often sell their foreclosed properties at higher prices due to bidding wars created by their bidders. In spite of that, it’s still possible to find the property that you’re looking for on their list.
- Pay for an Online Foreclosure Listing Service
Online foreclosure listing services such as RealtyTrac will provide you access to more than a million listings throughout the US for a premium fee of only $49.95 a month. Such service is definitely a worthy investment, considering that it will provide you with a lot of essential information about any nearby foreclosure in your area.
- Visit a Nearby County’s Office
You can get the information you need about available foreclosed properties in Florida by heading to a nearby county’s office. Moreover, some of them may even post the listing online. For example, you can find current foreclosure listings along with sales and other important information from your county office’s website. You can either choose to visit the office personally, or simply visit their website online.
- Consider Government-Owned Listings
The Department of Housing and Urban Development will sometimes list any foreclosed property it owns on its website. Once you find your preferred real estate, you can then contact the representing agent to make an offer. However, you should be informed that their properties are sold “as is” and you will be the one to take care of any possible repairs after purchasing it.