If you want to own a home in Florida, a foreclosure may be the right investment for you. However, because some foreclosures haven’t been well maintained, you must perform your own due diligence before spending your hard-earned cash. It is important to make sure that the home was properly secured during hurricanes because of the risk of hidden problems caused by these storms. When you start your search for a foreclosure in Florida, you have a couple of places online where you can find listings.
Realtor
A realtor is a licensed professional who can often help you find the perfect home for your needs. In some cases, a realtor has access to listings before the listings are posted online. Some foreclosures, such as HUD foreclosures, require that special processes are followed before the home can be purchased, and a realtor can help you navigate through the process.
If you want to search for foreclosed Florida homes on your own before you contact a realtor, you can head over to the official realtor Web site. On that Web site, you can search for foreclosed properties that are up for sale. You can narrow down the results by amenities, price and location. Once you find properties you are interested in, contact a realtor or the listing agent.
Online Classifieds
Some foreclosures in Florida are listed on online classified Web sites, such as Craigslist. As is the case with any home listing, you must perform due diligence to check the condition of the property, as well as taxes and other monies owed against the property.
Because scams run amok on these types of Web sites, it is important to verify that the person posting the property is offering a warranty deed, so that you have the protection that type of deed offers against other people, parties and entities laying a claim to the property. If the seller is offering a quitclaim deed or a special warranty deed, it is important for you to find out why. These types of deeds offer little to no protection to you if someone comes forward with claims of ownership.
When you are looking for foreclosures in Florida on these online classified Web sites, you may come across listings for land contracts, rent-to-own homes and lease-to-own homes. You must use extreme caution with these, as the real cost is often higher than a traditional mortgage, the down payment may be very high and the home may be in poor condition.
