Foreclosures
It is a dirty word for some, and has a more emotive meaning for too many people here. There are unfortunately plenty of foreclosed properties on the market in Naples, mainly in workforce communities like Golden Gate City, but a few luxury homes come up occasionally. These sell fast, so you have to act quickly to get one of them!
If you are thinking of buying a foreclosed property then you need to be aware of a few things first. You may be saving money on the purchase cost of the property, but in many cases, anything of value has been stripped out of the house by the previous owner. Chances are you will need to budget a decent amount to bring the property up to standard again. Most of these types of properties are owned by banks, who’s primary concern is offloading it at the first decent offer. Not keeping the property in a good state of repair, or dressing it to sell.
Foreclosures can be very good value as long as you bear these things in mind when looking at them. You may be buying a project as well as a property!
That being said, there are plenty of pre-foreclosure properties to be had too. These are still bargains to the savvy buyer as the seller will be keen to do a deal so they aren’t foreclosed. These will generally be in better shape, although it might be wise to specify early if you expect fixtures and fittings to remain.
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