South Florida - Condo Foreclosures, Residential Foreclosures in Miami Dade and Broward County


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Foreclosures with Photos
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33144,33155
Michael P. Schnabel, CIPS, REOS, GRI, TRC

Good news for homeowners facing foreclosure!

Fannie Mae just released a new policy named “Deed for Lease Program” under which thousands of homeowners that are facing foreclosure will have the opportunity to remain in their homes as tenants.
Under the ”Deed for Lease” program, borrowers can transfer ownership to Fannie Mae and sign a one-year lease, with month-to-month extensions after that.
If you have [...]

Authored by Michael P. Schnabel | Please Leave A Comment »

Susan J Penn, PA

New Luxury Upgraded 6/6 pool foreclosure for Davie Buyer $950,000

Davie Foreclosure property where you can live like royalty!

6 Bedrooms

6  Bathrooms
1.3 Acres
marble & wood flooring
Oversized pool
4 car garage
Updated kitchen and bathrooms!
This is a truly amazing luxury foreclosure ready for a Davie, Florida  buyer. Just listed on 10/26/2009,  Call Susan Penn, EWM Realtor at 954-557-5993 for an appointment today!

Authored by Susan Penn | Please Leave A Comment »

Victor Mills

Foreclosures in Pinecrest, Palmetto Bay and Cutler Bay

Home values have been affected by foreclosures. Unless you’ve been on an extended vacation to Mars, you’re fully aware of this by now. You’re probably also aware that a housing recovery may not be a steady return. It’ll more than likely take a winding road back.
Here’s some current facts regarding foreclosures in the Village of Pinecrest, the Village of Palmetto Bay and Cutler [...]

Authored by Victor Wayne Mills | Please Leave A Comment »

rileysmith

Foreclosure On Le Jeune Road Finally Sells

I wrote about this foreclosure in South Coconut Grove several times on my blog.  I knew the home very well because I had many clients who were interested in buying it and one client who made an offer on it.  Initially it was priced at $534,000 which was too high (due to the fact that [...]

Authored by Riley Smith | Please Leave A Comment »

Ines Garcia

Myths and Reality of Foreclosures Sold in Weston, Pembroke Pines-Miramar Florida

Single Family Homes Foreclosure Sales in Numbers
In my personal Facebook account I have no idea how many of my friends are fellow Real Estate agents, but I can tell you that MANY. Yesterday the following Video kept coming and I couldn’t resist the temptation to share it with you. At the beginning I had second thoughts [...]

Authored by Ines Garcia | Please Leave A Comment »

rileysmith

Buying a Foreclosure…Too Funny, A Must Watch!

Thanks to Kris and Steve Berg of The San Diego Home Blog for putting this together!

Authored by Riley Smith | Please Leave A Comment »

Victor Mills

REO’s and Short Sales

Buzz words that still make a buyer’s heart skip a beat… REO’s, Foreclosures and Short Sales. They’ve been around in large numbers for a while now.
No one disputes the fact that property values have declined. There’s not a whole lot of argument as to why it happened either. The 30+ % increases we were enjoying before April 2005 just [...]

Authored by Victor Wayne Mills | Please Leave A Comment »

Caroline Carrara

Fannie Mae First Look Initiative-Great News for Homebuyers

Did you know about the Fannie Mae First Look Initiative?
I didn’t until about 5 minutes ago…But now that I do, I want to share…
I just got off the phone with Fannie Mae to inquire if  there was any new Fannie Mae regulations that set preferences over Home Buyer Occupants as opposed to Investors when purchasing [...]

Authored by Caroline Carrara | Please Leave A Comment »

Vicki Restivo

A BETTER DEAL than the Foreclosure down the street!

By NOT looking for a foreclosure property, buyers can find a REAL GEM !
A better deal than the foreclosure down the street?   14793 SW 155th Place in Miami, Florida actually sold for $20,000 less than the foreclosure down the street … (the identical model, mirror image) .
For everyone out there who is scrounging for a foreclosure “deal” … keep [...]

Authored by Vicki Restivo | Please Leave A Comment »

Dawn Nicole Witherspoon

Are you facing foreclosure??

Are you still making your mortgage payments but unsure how much longer you can?
Are you behind on your mortgage payments?
Have you received notices from the court?
Is your house going to be foreclosed on in the next 2 weeks?
We can help no matter what your situation.
With over 20 years of experience in Real Estate and life long [...]

Authored by Dawn Nicole Witherspoon | Please Leave A Comment »

Foreclosures by City

Foreclosure Frequently Asked Questions

What is a foreclosure?

As defined by WikipediaForeclosure is the legal process in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) after the owner has failed to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that "the lender has foreclosed its mortgage or lien".

Where do I find foreclosed properties?

You can search for all pre-foreclosed and foreclosed properties that are listed in the MLS on EWM’s foreclosure search page

Is buying a foreclosure just like any other property?

The procedure for buying a foreclosure that is listed in the Multiple Listing Service is much the same as any other property. The seller is typically a bank or a third party company that the bank has designated to handle their foreclosures. But here are a few differences you may encounter:

Most foreclosures will require that you close within 30 days. Most foreclosures are sold in as is condition. Property inspections are of particular importance in a foreclosure sale. Many times the previous owner has removed fixtures or left the property in some state of disrepair.

Your offer may take some time to get a response. Since you are dealing with an absentee owner, your offer may take some time to be accepted or counter-offered and the response may be verbal. Some offers may require an approval from a higher source before it can be expected. The best way to proceed in making an offer is to make your contract as straightforward as possible.

Some foreclosures may be done on special contract forms or require special addenda. Ask for samples of these forms when you see the property so that you will be prepared when you make your offer.

Many foreclosures will ask for your financing information prior to accepting the offer.

Read more....