Thinking of Buying Longboat Key
or Sarasota Foreclosure Real Estate ?
Warning ... Get Professional Help !
There is a lot of talk about "Foreclosure" home buying on TV infomercials
Occasionally, there really are foreclosure bargains. But that is also true of the Longboat Key real
estate market in general. If you have an interest in foreclosures, it should be tempered with an
understanding that not all foreclosure prices are bargains. It's like any other auction process. Sometimes potential buyers bid the price above
what the item is intrinsically worth.  Recognize; that a low price, by itself,
does not indicate a bargain. The property may require costly repairs or improvements before it can be occupied or
Conversely, if you're a "do-it-yourselfer" and don't mind investing your own time and money,
a foreclosure real estate property on Longboat Key or in Sarasota Florida, paricularly one that
needs just some cosmetic work, can be a good deal. But know what you are getting into.
Foreclosed homes are typically sold "as is" meaning there is no warranty as to its condition,
the type of financing available on it, the form of title, and, among many other things, the rights of any lien holders.
Get good legal advice as well as good real estate advice.
The U.S Department of Housing and Urban Development (HUD) is one
of the largest entities involved in selling foreclosure properties and their website is a
place to start to learn more about buying foreclosure properties at
U.S Department of Housing and Urban Development.
You've heard the Travelers Checks phrase "Don't
leave home without 'em." A similar phrase applies to foreclosure property "Don't
buy a foreclosure property without an experienced real estate professional. Mary Bernas has bought and sold many foreclosure properties and can help you with any questions you might have."