Our listing system can automaticly match you with foreclosure homes which fit your needs! Tell us what you are looking for below, once your custom foreclosure search is set (usally within a few days) It will automatically send you an email on homes which match your criteria. You will receive email each day that new listings from all our sources meet your criteria. Click here to learn more about foreclosure offers.
Home Foreclosure Information:
There are many opportunities for purchasing a house that is in Foreclosure.
"Pre Foreclosure" is when the homeowner has been notified by the lender that they are going to foreclose. The homeowner is still in control and can sell the house and agree on the price as long as they can satisfy the mortgage. This sale would be like a normal sale but the owner would be pressured into taking a lesser price.
"Short Sale" is similar to Pre Foreclosure but the home owner obtains an agreement from the bank that it will settle for some amount less than the total mortgage. In the Short Sale the owner and the bank must both agree to the price. In most cases the bank will require that the buyer be pre-qualified by providing proof of funds or a letter from buyer's lender along with a cashier's check for deposit escrow. The bank will not even consider a short sale until a finalized contract is submitted (signed by seller, letter of pre-qualified credit and escrow is paid). The process of getting an answer from the bank may take 4 to 6 weeks. This is not a good option for someone that must move in a short period of time.
"Bank Owned Home" is after the bank has foreclosed on the home and it now belongs to the bank. The bank does not want to own the home and is willing to give a good price to sell it. The bank is the only one needing to agree on the price so they usually respond to offers within 2 to 3 days.
The Citrus County Dream Team would be glad to assist you with an offer on foreclosure opportunities or in preparing your home for sale. Buyers should please fill out the above form letting us know what kind of home you would like. Click here to learn more about selling your home.