If you want to buy a North Florida bank-owned foreclosure, you may be able to find a great deal – but these types of homes aren’t right for everyone.
What You Need to Know About North Florida Bank-Owned Foreclosures
Not all bank-owned foreclosures in northern Florida are great deals, although your Realtor® will be able to help you find one that is.
Remember that banks are in the business of making money, so they try to price their homes competitively. When you find a bank-owned foreclosure that’s priced well below what should be the standard price, keep in mind that it could be severely damaged or it may be in a less-than-desirable location.
The best thing you can do is get an independent appraisal to make sure that you know exactly how much the home is worth.
Most bank-owned foreclosures are sold “as-is.” That means they may not come with any type of home warranty, and you may need to put in a significant amount of work to make the house a home.
You’ll need to get an inspection on the home before you make an offer, too. Sometimes things that look like mere cosmetic damage are actually bigger problems in disguise.
When you choose to make an offer on a bank-owned foreclosure in North Florida, know that you probably aren’t the only one doing so. Many investors like to purchase these homes to fix them up and sell them for a profit, so you may have to wait several weeks before you get a response to your offer.
Are You Looking for a Bank-Owned Foreclosure in North Florida?
Whether you’re an investor or you’re just looking for a great deal on a home, we may be able to help you find a bank-owned foreclosure in North Florida.
Call us at 386-243-0124 or get in touch with us online. We’d love to help you find your next home.
