Fort Myers FL Foreclosures REO's & Bank Owned Property
- Fort Myers FL foreclosures, REO's & bank owned property will rise due to the number of properties currently in pre-foreclosure or being sold short. Since property values have fallen up to 50% in some areas, foreclosures are not always the best values on the market as the banks inefficencies do not provide the latest market comps to price the properties. That being said, you need an experienced Fort Myers Realtor® to help you navigate the process and make sure you are getting the best value on the market.
- A foreclosed property in Fort Myers can be in like new condition, particularly recently built properties purchased by investors at peak of the market's pricing. The current Fort Myers FL foreclosures inventory includes desirable homes in communities with a large portion of seasonal residents and when priced correctly, can turn out to be a very good buy, but they don't last long. And of course there are a few homes in various states of disrepair (appliances have usually been stripped out along with any fixtures of value), so be prepared to refurbish some or all of the house.
- Fort Myers Florida foreclosures are sold - "AS IS" - meaning repairs that would typically be the responsibility of the seller will not be made, nor in most cases will any offer requesting repairs be seriously considered. The buyer must accept the property - "AS IS"! The buyer still has the right to a property inspection, and may cancel the contract within a certain time, if the cost of repairs make the property a less attractive proposition.
- For investors seeking a return from appreciation and/or rental income, who have the time, energy and funds to bring a Fort Myers Florida foreclosure back to working order, then purchasing a foreclosure could be an phenomenal investment.
- Fort Myers FL foreclosures presents the first-time home buyer, move-up home buyer, luxury home buyer or savvy real estate investor the opportunity to acquire a bank-owned Fort Myers FL forclosure homes, condominiums and/or residential lots at a significant discount.
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