How to Buy a Destin Foreclosure

How to Buy a Destin Foreclosure

Below is a step by step plan that will enable you to acquire a great deal on a Destin, Sandestin, 30A, or Santa Rosa Beach Foreclosure or Short Sale. 

Follow the steps below and you will be on your way to success.

1.  Search Destin, FL Foreclosures by clicking the link below.

Destin Foreclosure Search - Click Here

2.  Hire a Real Estate Agent or Broker with Distressed Property Training.  Be sure to hire a professional that has closed multiple short sales and foreclosures.   Please check out my website at www.MainsailRealtyCompany.com. 

3.  Make sure you hire a qualified home inspector.  This may be the most important piece of the puzzle.  Foreclosures and short sales are purchased AS/IS.  This is not a bad thing because the AS/IS sale should always allow for an inspection/due diligence period.  If you do not like the inspection results, you should have the ability to walk and retain your deposit.  I make sure all of my client's offers are written up this way.  So obviously, having the right inspector is key.

4.  Always purchase title insurance:  Foreclosures and short sales seem to attract liens and title defects.  Be sure to purchase title insurance to protect your investment.  All of my clients receive title insurance and in most cases the banks will pay this closing cost.

5.  Check on the Association:  In any Real Estate transaction, you need to check out the Homeowners or Condo association.  This is very important.  Make sure you review the condo docs and make sure you have your Realtor provide you with the Condo Association Disclosure.  Make sure you or your accountant look at the budget.  Are they funding the reserves? Are they operating in the black?  A weak association can result in surprise assessments and increased fees.  I advise all of my clients to call the association manager and ask questions about the health of the association and the possibility of raised fees and assessments.

6. Study the comps.  I provide all of my buyers with detailed CMA Reports "Comparative Market Analysis".  The CMA will show you recent sales and sales price per square foot.   If you know the value of the property, you will be able to spot the great deal.  This information is easy to obtain and all buyers should study the comps.

I would love to help you find a great deal on a Destin, FL Foreclosure.  I am not afraid to submit any offer no matter how low.  Feel free to call or email me with any questions.