In the past 6 weeks we have been getting a lot of phone calls and e mails from people interested in buying ‘distressed’ property in Brevard County Florida. There is no question about it, currently in Brevard we have some exceptional deals on properties available for sale.
One woman last week asked me to help her find a $15,000 home. She indicated that she had heard that the banks were giving homes away. I asked what area she was looking in and what she was looking for in a home. I explained to her that there were many great deals available, but a $15,000 home was usually gutted and/or uninhabitable, if it existed at all.
She told me that she saw homes that were going to be auctioned off. I explained that yes, often times people get great deals on these properties, but if they were being sold on the steps of the courthouse, they are not always being sold with clear title. They could be buying a home with encumbrances or liens remaining on the properties, thus they could become responsible for those liens.
It is crucial in this market, that people do their homework first. These deals are not always what they may seem. We seem to be seeing the crooks coming out of the woodwork again, trying to sell books and tapes teaching people to ‘get rich quick’ off of other people’s misfortunes.
Now, don’t get me wrong, I am not opposed to buyers picking up great deals on foreclosures and short sale properties. I think there are some great buying opportunities today.
Just be careful.
And, be sure to enlist the experience of a knowledgable realtor that can help you steer clear of these “deals that just seem to be too good to be true.” Because, if they seem too good to be true, they usually are.
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