Buying Foreclosed Homes in Pinellas County, Florida
If you are looking to buy a foreclosed home, my goal is to help you find properties that are a great deal and that you will enjoy. I am a Certified Short Sale & Foreclosure Specialist with access to real estate listings, from both my clients and other sellers, which include foreclosed and pre-foreclosure homes.
Why You Should I Work With a Real Estate Agent When Buying a Foreclosed Home?
Buying a foreclosed home is not just about getting a house for the least amount of money possible. It still has to be a smart investment and an enjoyable property. Working with a real estate agent will help you ensure that the home is in a good neighborhood, is going to give you the value you are looking for, and will be worth what you are putting into it. After all, it's not just the purchase price - there are also updates, fixes, and incidentals to consider.
For example, consider a foreclosed home listed at $300,000 where the appraised value is $350,000. Sounds like a great deal. However, this home may require you to upgrade all of the appliances, install a new air conditioner, re-landscape, fix leaking pipes, etc. If all of this work totals over $50,000 then you would be better off buying a non-foreclosed home for $350,000.
Another Thing to Remember Before Buying a Foreclosed Home
That example was pretty tame compared to what happens every day when buying a foreclosed home. It is no secret that many people are upset when they lose their home due to foreclosure. And, more often than you'd think, they take it out on the property itself.
To say that they take everything, including the kitchen sink, can be an understatement. I have seen foreclosed homes where they took the toilet, water heater, and just about everything else you can imagine - even if it was nailed down. I have also seen properties that have structural damage that the bank has not repaired. So in addition to the extra cost that might be involved in upgrading the niceties in a foreclosed home, it could actually take extra time to just get the house in livable condition before you move in.
Working with Darrell Biggs & Buying a Foreclosed Home
There are still great deals on the market. I can assist you in buying a foreclosed home and in evaluating other options such as short sale properties or a home that is not a distressed sale but is still a great deal. Whatever the case, I will work with you to find the best home on the market for your needs. Contact me today to get started.