Foreclosures on the Treasure Coast are getting increasingly difficult to find, but with our foreclosure search website, you can easily search thousands of cheap foreclosures all over the Treasure Coast in real time. The foreclosure listings are updated every 15 minutes, ensuring that the homes and information you are seeing is reliable and verified. While we also have a Treasure Coast Short Sale Search website, this page will show you the REO properties that have already been foreclosed on and are active on the MLS.
Treasure Coast foreclosures sell quickly, whether you're in Port St. Lucie or Jupiter, and to really have a shot at buying one, you need a responsive, knowledgeable real estate agent that specializes in foreclosures to help you buy a foreclosure home on the Treasure Coast. We have our finger on the pulse of every aspect of the Treasure Coast real estate market, and you can call us 24/7 for information or showing details on these foreclosure listings.
Keep in mind, many foreclosed homes on the Treasure Coast do not make it to the MLS because they simply sell too quickly. Call us for a detailed list or notification any time one is available and getting ready to come onto the market.
There are millions of foreclosures and foreclosed homes for sale provide an interesting incentive for prospective buyers. First, they are usually cheaper per square-foot than the average sale. This is because they are usually unoccupied and in disrepair, but they also are owned by a bank, who is heavily motivated to sell the foreclosure property. In some markets, there can be thousands of foreclosures for sale and competition can be scarce, but in others, there can be a lot of buyers wanting to get a great deal on cheap foreclosure homes, driving up the prices. Is buying a foreclosure on the Treasure Coast the right move for you? Call us today at (772) 444-7691 for a needs analysis and free consultation with a real estate professional to find out.
A foreclosure, occurs when a homeowner fails to pay their mortgage and therefore forfeits their rights to the real estate. The first step before going into foreclosure would be to pay the outstanding debt through a short sale, then a foreclosure auction. If the owner cannot satisfy the mortgage, the property goes into foreclosure and will be bank-owned. Another term for these foreclosured homes are REOs (real-estate owned).
Whenever a borrower takes out a mortgage to purchase a home, there is a lien put on that property to secure that loan. Unsecured loans, like credit card debt, have no collateral and therefore can bear more risk for the financial institutions that lend the money. With a secured loan like a mortgage, the lender seizes and sells you property as collateral to recover what it lost.
Why would this benefit buyer of foreclosures on the Treasure Coast? Banks are not in the real estate business, so when a bank-owned property is for sale, they price it to sell quickly and affordably in most cases. While there is usually little room for negotiations on REO homes, and the homes are sold "as-is", foreclosures on the Treasure Coast can provide a great return on the homeowner's investment if bought for the right price in the a good Treasure Coast community.