Foreclosures

Foreclosures are a very large part of South Florida real estate transactions and they are not going away for another 3-5 years from what experts are saying.  Buying a foreclosure property can either be a great deal or a nightmare for prospective home buyers between the wait it takes for the lenders to accept or respond to offers, issues that come up the day of closings with title work or many other problems that delay closings.

What to expect when buying a foreclosure?

Expect everything possible to go wrong and you are ready to buy a foreclosure property.  If you get lucky and your real estate transaction goes through without a snag then you are doing good.  Never consider buying a foreclosure if you are on a time frame crunch because you will most likely be homeless and living in a motel for some time.  Dealing with foreclosure listings is something that the average person should not get involved with if you are not ready for the up’s and down’s of making offers on foreclosure properties in South Florida.