Over the past few years Cape Coral has quickly gone from Florida's fastest
growing community to the foreclosure capital of the world. At the moment there
are hundreds of foreclosed single family homes on the market. The lending institutions
and finance corporations who are now the owners of foreclosed homes hire professional
Realtors to list and sell the homes. Foreclosed homes can normally be found
on the MLS. At this time the selection of foreclosed homes is awesome. It should
not be difficult to find exactly the home you're looking for.
Is it a Deal?
It's imperative for the buyer to know the market. Check the recently sold prices
on comparable properties. Consider cost of repairs! Get a contractors repair
quote during your 10 day inspection period. The sale price is a bargain but
you can expect to put money into a foreclosed home. Take Cape Coral utility
assessments into account. Make sure to find out if assessments are paid or
not.
Avoid Disappointment!
Hire a Realtor that knows the foreclosure market and make an intelligent bid.
When the asking price is under market value, don't be surprised to have to
offer above asking price. Most opportunities are missed because the potential
buyer underbids. The foreclosure market is busy, competition is steep. Buyers
from all over the country as well as all over the world are competing for a
deal.
What the seller (lending institutions/finance corporations) will require-
-"AS IS" sales contract /acceptance of 5 business days / closing
date 30days
-Escrow money (minimum 1% of purchase price)
-A recent pre-approval by a reputable lender or proof of cash funds
-The lender will have several addendums and maybe their own contract to sign.
Cape Coral has many wonderful homes in foreclosure. Are you looking to buy
a Cape Coral foreclosure? Use my expertise to achieve you goal.
Barbara Klare
Gulf Coast Realty
239-292-1358
Please visit my website www.cape-coral-foreclosure.com
Email me: bklare@comcast.net