Bonita Springs Foreclosures and Bank Owned Homes and Condos
2010 and 2011 will provide some outstanding Bonita Springs foreclosures, so be sure you take advantage of these Bank Owned REO properties. There is a variety of real estate in REO (Real Estate Owned) by lenders including Bonita homes and condos in the foreclosure process.
IF YOU ARE NOT PAYING CASH YOU NEED A PRE-APPROVAL LETTER FROM YOUR LENDER IN A SPECIFIC DOLLAR AMOUNT BEFORE ANY BANK WILL ACCEPT AN OFFER FROM YOU.
DO YOURSELF AND FAVOR AND GET THAT DONE BEFORE YOU THINK ABOUT A FORECLOSURE.
The first step in purchasing a property is to have a real estate company like us, to represent you. We are experts as Buyers Representatives, negotiating with lenders and listing agents to be sure you offer the right amount for the property. You should always have a buyers Representative assist you in any real estate transaction. Feel free to call us toll free at 888-999-3208, so that we can start our relationship. Remember there is no cost to you for our services as we are paid by the Lender/Agent but work for you!
Foreclosures Can Cost More Than Just The Price - When we assist you in making an offer to the lender almost all contracts are AS IS. This means you are responsible for any repairs that may be needed. You have the right to inspect the property and we will provide you with a list of Licensed Home Inspectors. If the repairs are more than you want to spend then you can cancel the contract within a specific time frame.
How Bonita Springs Foreclosures Work
Pre-Foreclosure Warning Letter- When the owner falls behind the lender will send a notice pre-foreclosure letter requesting payment.
Working Out an Agreement Between Parties - If the Owner can not make the required payments then the owner and lender may try to work out an agreement. Options include stretching out payments or reducing the interest rate among others options.
Lender Files Foreclosure Lawsuit - If an agreement cannot be reached then the lender files a foreclosure lawsuit against the property.
Auction Sale of the Property - Once the lawsuit judgment is ordered by the Circuit Judge in favor of the lender, it becomes a (REO) and then they put the property on the Auction Block or sell it.
Buying Bank or Lender Owned Property - If the property fails to sell for the Lenders reserve price at Auction, then they then list the Bonita Springs foreclosure with a listings agent or sell the property directly themselves. This is one of the best time to buy a home or condo because it has gone through the foreclosure process and the bank can sell it at an agreed price.
We hope that this short summary helps you understand the complex Bonita Springs foreclosure process and be sure to call us first are you will be glad you did.
On this site you will also be able to search for Bonita Springs Homes and Bonita Springs Condos listed on the MLS by selecting those buttons which are not foreclosures.