Sarasota Foreclosures and Short Sales

Looking for a good deal in Sarasota, Florida? Many home buyers assume that all foreclosures and short sales are good deals. That is not the case. There are some great buying opportunities in these types of homes but there are also some great deals from sellers who are just realistic about their price. 

Foreclosures

A foreclosure is a home that has been taken back by a bank or lender. It is also known as a bank owned property or REO. The bank has completed the foreclosure process and has title to the property. These are relatively easy to buy because you can usually get a response from the bank quickly. Buying a foreclosure can happen much more quickly than buying a short sale.

Visit my Sarasota foreclosure page to see all bank owned and short sale properties for sale in Sarasota, Florida and surrounding areas.

Short Sales

A short sale is where the mortage of the home exceeds the properties value and the bank must approve that sale. These homes generally require a much longer time period to purchase. For example, I have a client who submitted and offer to a bank on a short sale in January of 2009. Here it is July 31st and we still do not have answer. Be patient if you are looking to buy a short sale.

Visit my Sarasota short sales page to view short sales as well as bank owned properties in Sarasota, Siesta Key, Lido Key, Longboat Key, Bird Key, Casey Key and Lakewood Ranch.

Give us a call if we can help you purchase a Sarasota foreclosure - 941.812.6272.