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foreclosures: Tale of a Succesfull Foreclosure Sale - 03/04/10 08:05 PM
The home was in one of Palm City's better neighborhoods, a leafy gated community with a variety of home styles. My clients were seeking a pool home under $250,000 and we had looked at several, all at the top of their price range. I suggested a short sale or foreclosure as an option, but they did not want to take on a renovation. When I spotted this Freddie Mac foreclosure I knew it could be just right for them.
As we pulled up to the home I warned them about what could be lurking inside: missing appliances, fixtures ripped from the … (3 comments)

foreclosures: Top 10 Potential Pitfalls to Purchasing a Foreclosed Home in Florida - 02/14/10 08:08 PM
With a myriad of distressed properties on the market and more looming, many home buyers are clamoring to purchase foreclosed homes. But you need to be aware of the potential pitfalls in purchasing a distressed property, especially the risk associated with the cost to repair any deficiencies that a buyer assumes in an as-is foreclosure transaction.
Here are 10 areas to watch out for when considering a foreclosed home:
1. No power to the house. If the home has been without power for some time then chances are it has not been properly air conditioned. With our hot humid Florida climate … (3 comments)

foreclosures: Buying a Short Sale or Foreclosure - The Risk and Reward - 07/01/09 03:51 PM
The soft real estate market here on the Treasure Coast is attracting a wave of primary and second home buyers who have been sitting on the sidelines waiting for an opportunity to buy a first home, "snowbird" retreat or retirement home. Their patience is being rewarded with an abundance of readily available distresed properties at prices well below the $150,000 mark. These homes are typically short sales and foreclosures, which raises several questions about which type of sale to pursue and at what price.Short Sale vs ForeclosureSimply put, a short sale occurs when the seller's lender agrees to a sale for less than the mortgage balance. It is the … (0 comments)

foreclosures: Murphy's Law And Buying Distressed Florida Properties - 01/08/09 08:32 AM
Having closed several hundred transactions over the past five years, I thought I had experienced just about every obstacle Murphy's law could throw in the path of a successful closing.  From intransigent sellers to inflexible buyers, we have worked our way through negotiations and dealt with whatever was thrown in the path towards settlement. 
The latest wrinkle of course is the emergence of short sale and foreclosure (also known as "REO" or bank owned) properties, which add to the mix of potential bottlenecks in a transaction.  That said, here are some of my own experiences with Murphy's law as it pertains to selling distressed homes:
Time … (1 comments)

 
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Eric Slifkin, Broker Associate

Palm City, FL

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Keller Williams Realty

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