Finding the right Florida Bank Foreclosure Homes
You can find more than 1000 Florida bank foreclosure homes in this Sunshine State. There has been an increase in bank owned foreclosures in cities like Tampa and Orlando leading to an open market for investors. You can find different types of property for investment ranging from commercially seized properties, REO's, Condos, HUD, VA to other dilapidated homes. A 2005 market study reveals that 10,334 homes entered foreclosure in Florida in February'05.
Florida Repossessed Homes Listing
Due to the high foreclosure rates in Orlando, FL, a large inventory of Florida repossessed houses has been created. This is good news but to find the right property, you will require a list of all bank owned properties in Tallahassee or Hialeah, FL. Most lenders have a list of Property Repossessions, Multi Families, Handyman Specials, HUD, Cheap houses and many more but at times it can be extremely difficult to find the right person or the updated list. So the other alternative is to search on the Internet. There are many real estate companies who offer an extensive list of such homes for free. If you are looking for a list of repo homes in Miami or Jacksonville, FL then you can take membership on these websites as their property lists are updated on a daily basis. A 2005 report revealed that Tampa-St. Petersburg was fifth overall with 15.9% home price appreciation.
The advantages of buying Bank foreclosures for sale in Florida
There are many advantages of buying bank foreclosures for sale in Florida and this is not because of the pleasant climate it offers. Places like Coral Springs or Fort Lauderdale, FL offer repo homes for sale at some of the down to earth prices. If it is a HUD, VA, Fixer Upper, bargain or a tax lien home then you can buy it at an auction in FL for almost 20% discount. These bank home foreclosures are sold as seen, and you will be responsible for any internal repairs required.
Another option is handyman specials wherein you buy dilapidated bank houses for sale; invest in repairs and sell it off at a higher price thus making a profit. There are many online real estate companies who offer discounts of 20% to 30% for handyman specials anywhere in Florida from Miami to Jacksonville, FL. Repo homes are also available through selling of a Tax Lien certificate. In Sarasota, FL the bidding starts at 18% and the certificate are given to the person offering the lowest interest rate annually.
Another popular type of foreclosed home is Condos and Fort Lauderdale, FL has plenty to offer. With Ocean front views, palm trees and fitness centers, condos are hot real estate investments. A report in Feb 2006 stated that there were 11,709 new foreclosure filings that included cheap houses, VA, REO, commercial seized properties and fixer uppers. Most of these bank owned properties were sold at auctions where the highest bidder will win his dream home.
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