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Do you have questions about how to buy a foreclosure in Florida? Ask me.

How to buy foreclosure house

The first step in buying a foreclosure is in finding homes that are being sold as bank owned/foreclosures or homes being sold as pre-foreclosure. There are several sources you can use to locate distressed property including:

• The Multiple Listing Service. As an agent I have access to thousands of homes that have been foreclosed on by lenders and are now being offered for sale in the MLS. Pre-foreclosures or "short sales" information is also available in the MLS.

Making the offer to purchase a foreclosure

In many instances foreclosures are receiving multiple offers. The reason for the multiple offer situation is because these homes are being offered for sale at market or just less than market value. You will want to review comparable sales in the area to help you determine a maximum price to offer on the home.

Due Diligence

Even though most foreclosure/bank owned homes are sold "as is", after you have received an accepted offer on a foreclosure home you will still want to have the home inspected to help determine overall property condition and to be alerted to previously undisclosed problems. You should also make sure to purchase an owner title's policy and take any additional precautions/steps you deem necessary before closing on the home.

Where we come in

We will help you:

• find and identify the best foreclosure house
• explain the bidding/offer process
• help you make informed decisions when dealing with a highest and best situation
• explain and assist you with all of the bank addendums

Call 407-304-0255 to get started.