Forclosures In Palm Coast-The Buzzards

Heartless, excited folks are out there buying forclosed properties from greedy banks and covering their losses with our stimulus money. 

Stop them!  Let the government take care of things!  Sure.  For a comparison think of what Palm Coast would look and smell like if we had no turkey buzzards. If we had only our government to rid us of our road kill.
Following some innovative Green program regulations.  And what would that cost us?

I was reading Toby Tobin’s newsletter yesterday. It listed the scheduled courthouse foreclosure auctions for November:  hl=en&zx=167b63pj6xo4j&shva=1#inbox/124ac64b518e5761

Bargain hunters who wait for these ‘Bank Owned’ listing to appear on their Multiple Listing Service are way behind the curve.

Yours truly is a Buyers Agent with SunBurst Realty. I’m full of local knowledge and interesting BS about our town. And of course I am exceptional and know how to research and find the right property for a qualified buyer.

So here is the poop on forclosures:

I have to work like crazy to even find out the addresses of the Lis Pendens properties (Lein Pending=pre forclosure). Then I have to go see what they look like. (I take photos and videos of good ones).

When I have a client who is interested in purchasing a property at the forclosure auction; I work together with a good, economical real estate attorney (I use my friend Steve Sapienza) and the group of us all go to the auction to bid.

For prospective Buyers who want to take less risk than buying at a forclosure auction; I help them try to find and buy a foreclosed property before it ever gets listed.

Banks (lenders) must wait ten days before they get title to the property they purchase at auction. They then make a strategic decision as to whether to list it immediately with their real estate third party company or hold it off the market to save the cash needed for maintenance, taxes, condo fees, etc.

They ooze their ‘Lender Owned’ properties gradually onto local Multiple Listing Services so they don’t flood the market and reduce their possible sale price.

The time that lapses between when properties are bought at the courthouse and when these properties finally work their way onto a multiple listing service is the time to buy.

It takes work. Tallk To Ted!

Andy Rice of creativepages.net is currently revising my real estate website, AboutPalmCoast.com to show my forclosure photos and videos and recommendation. Stay Tuned.