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.
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.