REO Bargains in Florida Take Thorough Assessment
Florida REO bargains can’t help but catch your eye when you’re searching through the latest residential offerings. Whether you are a future homeowner or an investor looking for an opportunity that makes financial sense, bargain basement prices are hard to skip past.
Florida REO homes (the “REO” is Real Estate Owned, meaning bank-owned) are still being offered at relatively low prices — sometimes, remarkably low prices. But like skilled investors in any realm, successful REO buyers make sure they know why those prices are where they are. In the REO world, the standout factor is this: buying REO means cutting out a proud owner who cares, instead dealing with a bank that wants to sell. It’s a personal pride deficit that inevitably translates to the bottom line. So finding winning REO opportunities in Port St. Lucie, Jacksonville, Palm City, Stuart, Palm Coast, Jensen Beach, Hutchinson Island means hard headed assessment of the minuses as well as the plusses.
For sure, banks are not in the business of losing money. They may not wish to remain landlords, but they have an asset on their books, and want to get the most for it. They are looking at Florida’s real estate market, too; when we see the direction that prices are heading, they do, too. If their cost of holding onto an asset is less than it was last year, a standout bargain basement price is almost certainly condition-based. Unlike owner-owned offerings, banks have no interest in perfecting a home prior to sale. More importantly, they have fewer mandatory disclosure obligations. Ca–ching!
My clients know that’s why they must be able to secure a thorough inspection by a proven Florida inspector. Only after they are able to estimate how much budget will be needed to bring a property up to snuff will the complete size of the investment be clear.
And then they need another quality that distinguishes a successful Florida REO investor: patience. We are dealing with a bank. Enough said.
The overall market may have picked up considerably, yet I can point you to deals that are still to be had in the REO realm. Give me a call to discuss today’s inventory!
Having the right real estate agent means having an agent who is committed to helping you buy your new home with the highest level of expertise in your local market. This commitment level has helped Bold Real Estate Group build a remarkable track record of delivering results.
Are you tired of scouring the newspaper and MLS listing sites looking for homes in Florida? Tired of playing telephone tag with Realtors only to hear the home’s already sold? Sit back, relax and let Bold Real Estate Group and our team of professional Realtors do the work for you! Just visit our website and check off the properties you’re looking for. This service is FREE and there’s no obligation!
About the Author: Millie Gil has been a successful Licensed Real Estate agent for over 25 years in Florida. Millie is Vice President of Bold Real Estate Group, a boutique agency committed to concierge personalized service for discerning buyers, sellers and renters of residential and commercial properties. For more information please forward your request to firstname.lastname@example.org or contact office 772-224-1634
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