Bank-Owned Homes

Bank-Owned Homes

There are so many opportunities to purchase bank-owned homes at great prices here in Polk County.  We can help you find the perfect home for your needs. First time home buyers, second home or investment property buyers can find wonderful deals. 

Bank Owned Homes For Sale

Florida leads the nation in foreclosure filings in 2013.

Take a look at these links featuring bank-owned homes for sale throughout Polk County in a variety of price ranges.  We can help cash buyers and buyers who need financing purchase any home listed in the Central Florida Multiple Listing Service.

The State of Florida is a judiciary state for foreclosure filings and this process can take several months or a few years from the time a bank first serves the notice of foreclosure to the final judgement sale date.  Florida currently has a "shadow inventory" of homes that are in foreclosure and we believe buyers will have the opportunity over the next 12 to 24 months to purchase these types of homes for sale.

Bank-owned homes are also referred to as "REO" properties which is a term in the banking industry for "Real Estate Owned".  If you see a home listed as either a REO or bank owned home for sale and you would like more information, then just call one of our agents to schedule a private showing.

Many properties require some repair or remodeling work and lenders have created finance programs specifically tailored for these homes.  Previously, the only buyers who could purchase homes that needed repair work had to have cash funds.  However, the FHA 203k streamline and FHA 203k financing programs offer buyers who qualify an opportunity to purchase and repair a home before moving into it.

Inventory levels are extremely low in our current market so it is always recommended that buyers who need financing talk with a loan specialist and get prequalified so when they find the right home they are ready to move forward.

 

Contact Information

Photo of Native Palm Team Real Estate
Native Palm Team
Native Palm Properties
5925 Imperial Pkwy, Suite #111
Mulberry FL 33860
(863)647-1679
863-838-1318
Fax: (863)701-8309