Should I buy a Foreclosure in South Florida!!!
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Yes! This is the right time to buy a Foreclosure home in South Florida! Plenty of 
foreclosures are available in the Market. But just like any other home purchase, you must be ready to follow certain rules for Foreclosure home purchase in South Florida. I am a CDPE(Certified Distressed Property expert) and has helped many clients buy a Foreclosed home in South Florida. Most of my clients weren’t investors hoping to make money by flipping these properties, rather First time home buyers and people who were buying a second home. Foreclosures can be tricky than a regular home purchase. Below are some of the tips that could help you along the process.
· Always get a home inspection! This is highly recommended. Every foreclosure home has been vacant for 2-3 years, and shows differently. A certified home inspector, would test all the electrical, mechanical, plumbing and structural mechanism. It would also be advisable to do a termite, radon, mold, well and septic inspections also.
· Foreclosures are usually sold AS-IS. Most of the time we don’t have any exception to this rule. Inspections are informational purposes only, but the $350-$500 you spent on inspections would prevent you from major headaches later-on. This could also be used as a good option for us to negotiate.
· Don’t expect Disclosures. REO property’s are owned by the bank, and during the acquisition process, they would not get any information about the property. Hence it’s important to do the most due-diligence possible.
· Buying an Home warranty for Foreclosure purchase in very highly recommended. A home warranty will help you with repairs after you move in. There are many types of warranties available and we can recommend these companies to you.
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