Clearwater Real Estate | Do You Want to Buy a REO Bank Owned, Foreclosed Property, Pre-Foreclosure or Short Sale?
May 7th, 2008 Categories: Clearwater Beach Florida
Real Estate in Clearwater Florida | Buyers Find Bargain Waterfront Homes and Luxury Condos
Clearwater Florida – I receive about 5-calls a day where someone is asking me if I have waterfront foreclosure properties and Clearwater Real Estate bargains on Clearwater Beach, Island Estates and Sand Key FL; as well as the surrounding areas we serve in Pinellas County.
Like everywhere in the United States, we have our share, so here is some information that I hope you find to be helpful in your search for your ultimate Clearwater real estate deal.
Yes, we do have waterfront, gulf front and luxury foreclosure, pre-foreclosure and bank owned properties in addition to homes in lovely Clearwater neighborhoods. So, lets discuss these terms before I get into some more info on buying real estate in Pinellas County, Clearwater homes and condos in foreclosures:
Clearwater Real Estate Options for Buyers looking for Bargains, Deals and Steals:
- Pre-Foreclosure – The Pinellas County home / condo owner has or is about to miss some home loan payments to the bank.
- Foreclosure – The Pinellas County home / condo owner has missed mortgage payments and the bank has filed an action with the court to take control of the Pinellas property.
- REO – Real Estate Owned – means the bank owns the property (homes, condos, villas, town homes). The bank has taken the property from the home / condo owner and is now selling it.
Realize that in most cases, the bank cannot profit from a home, condo or town home until they own it. That means a pre-foreclosure or foreclosure property is not profitable for a bank and that the bank is trying to minimize the loss.
About Cyndee Haydon
Cyndee Haydon, Realtor with Future Home Realty specializing in luxury waterfront and beach homes of Clearwater Beach - St Pete - Tampa Bay area with her husband and partner, Jack Haydon Cyndee's Google Profile
This does seem like the season for buying in Florida! I look forward to your participation in my “February is Florida Month” promotion in Maryland.
Cyndee- There can be deals to be had but working with experienced buyers agent such as you and Jack is the key to making a successful purchase in Clearwater Florida. – Ashley
Cyndee,
The added complexity when working with these types of properties makes working with the right real estate professional even more critical. I hope the clients who have been waiting for 5 months are rewarded for their patience with a great home!
This is great information and an insightful blog. Its hard to find good foreclsorue properties in ceratin areas. I recently found a great tool where you can view all Florida foreclosures, the property location, a view of the property, and other detailed information. Its been a great help!
Cyndee, because transactions involving bans could be complicated, require a lot of paperwork and patience, they require someone knowledgeable to assist the buyers in the process. When these deals close and your clients own a home purchase at bellow market price, I am sure they would be very grateful for your work.