Kissimmee Florida Bank Owned & Short Sale Specialist!

Kissimmee * Celebration * Davenport * Windermere * Hunters Creek * Lake Nona * Saint Cloud * Dr Phillips * Reunion * Clermont

Distressed Luxury Home Search

With the rise of short sales, foreclosures, and distress home sales in central Florida, this has become the ultimate way to buy a luxury home in central Florida. Whether you are looking for a central Florida foreclosure home, a short sale, or any other central Florida listings, then you have come to the right price.

If you are interested in foreclosures or distress sales in Windermere, Celebration, Dr Phillips, Lake Nona, Reunion, Hunter's Creek and Kissimmee, then let me know. With a large selection of short sales and foreclosures on the market right now it creates the perfect opportunity for those who want to own in these areas. These incredible deals won't last forever so the time to act is now!

Definition of a distressed property:

1. Property that is in poor physical condition.

2. Property that is or will soon be in some stage of the foreclosure process.

3. Property owners who is or are experiencing a period of financial instability.

4. Property on which the mortgages balance is higher than the current value (Short Sale)

5. Property that is bank owned,(REO's) or corporate owned.

What is Bank Owned(REO)Properties?

An Bank owned (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction. Most foreclosure auctions do not even result in bids. After all, if there was enough equity in the property to satisfy the loan, the owner would have probably sold the property and paid off the bank. That is why the property ends up at a foreclosure or trustee sale.

Foreclosure sales begin with a minimum bid that includes the loan balance, any accrued interest, plus attorney's fees and any costs association with the foreclosure process. In order to bid at a foreclosure auction, you must have a cashier's check in your hand for the full amount of your bid. If you are the successful bidder, you receive the property in "as is" condition, which may include someone still living in the property. There may also be other liens against the property.

Since what is owed to the bank is almost always more than what the property is worth, very few foreclosure auctions result in a successful sale. Then the property "reverts" to the bank. It becomes an REO, or "real estate owned" property.

What is Short Sale?

A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. In a short sale, the bank or mortgage lender agrees to discount a loan balance because of an economic or financial hardship on the part of the borrower. The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender. Neither side is "doing the other a favor;" a short sale is simply the most economical solution to a problem. Banks will incur a smaller financial loss than foreclosure or continued non-payment would entail. Borrowers are able to mitigate damage to their credit history, and partially control the debt. A short sale is typically faster and less expensive than a foreclosure. It does not extinguish the remaining balance unless settlement is clearly indicated on the acceptance of offer.

*Available luxury homes type include Condo, Townhomes, Single family, Lakefront, and Waterfront homes. Beautiful homes with two to three car garages, theater room and more.

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