There's an amazing selection
of Cape Coral foreclosed homes. These homes are now bank or corporate owned.
The selection includes waterfront, gulf access, direct access, sailboat access
as well as homes on dry lots. Many are newer homes. Now is fantastic home or investment buying opportunity, but …..?
Foreclosed
homes must be purchased "as is" from the lender or corporate
financial institution. Don’t expect a foreclosed home to be in perfect
condition. It is possible to inspect these homes before making an offer but
often in Cape Coral’s fast moving foreclosure market, there is little
time to do a proper professional inspection.
When
home owners are faced with foreclosure they usually stop maintaining the home.
In Cape Coral’s lovely tropical climate, the landscaping will
either die in the winter in become a jungle in the summer. Swimming pools turn
green in a matter of weeks. As we move towards Cape Coral’s humid summer,
mold may also become an issue.
If
mechanicals such as air conditioning, well equipment, pool equipment are broken,
malfunctioning or missing the owner of record isn’t going to
replace or repair them.
If the owner or tenants are angry they may deliberately destroy the house.
They may smash walls and windows or pull out the copper pipes and wiring to
sell as scrap metal. More often than not, the appliances, kitchen cabinets
and lighting fixtures have been removed and sold.
Be
prepared to make cosmetic and/or mechanical repairs. It
is important to do your homework. Know the market price and the cost of repairs!
The price of a foreclosed home is low; but you may have to put time and money
into a foreclosed home. It would be wise to have the time and funds set aside
for repairs before you decide to buy a foreclosure.
Cape
Coral foreclosed homes, Cape Coral foreclosure, bank owned, corporate
owned, waterfront, gulf access, direct access, sailboat access, newer
homes, foreclosure market, Cape Coral, foreclosed home, foreclosur
Barbara Klare
Gulf Coast Realty
239-292-1358
Visit: www.cape-coral-foreclosure.com