Bank owned foreclosure houses are considered by some to be the best deals on the market today. However bank owned foreclosures that are also listed as fixer uppers in need of mechanical and cosmetic repair, the deals can appear to be even better! I say appear because often these lower priced homes will receive multiple offers that exceed the list price creating a much higher sales price. Also in some cases the cost of work that needs to be done in order to make the home livable again makes the purchase price less of a deal.
Low List Prices
But still the list prices are inviting to investors and first time home buyers. For instance in Osceola and Orange County there are over 1200 of these types of homes for sale. Nearly 500 of them have a starting list price under $100,000 and 200 plus are listed below $50,000!
Due Diligence
Buyers will want to exercise caution when making a deal for one of these homes. Make sure you take advantage of every inspection available to you and are comfortable with the costs involved to repair the items in the home that are found defective or damaged.
If you would like a list of available damaged, fixer upper bank owned foreclosures in your area contact me and I will email you a list of houses in your area.
Related Florida real estate views:
6 out of 10 homes purchased in Kissimmee were homes that were listed as bank owned
What buyers and agents are discovering when buying bank owned homes
Getting a buyer to buy your home over a bank owned home
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