Friday 20 March 2009

Florida Foreclosed Property

Looking for a cheap property in Florida? Well the good news brought by the recession is that there is no shortage of availablility. Prices in Florida are, in the main, way down. If you really want to make a killing, though, then bank repossessions (known as foreclosures in the US) are the way to go. 

If you browse of the following link you'll find a selection of foreclosed properties that we've cherry picked for your perusal. These are exceptional properties in good areas and all in an excellent state of repair. Most importantly though, they're cheap. 

Some people say their conscience won't allow them to purchase a property which has been the source of much discomfort for the previous owners. If this is the case just remember that the previous occupants are now the owners no longer. What's done is done. The bank is now in possession of these properties. Not bidding on the property isn't going to be of much assistance to you but will be a huge help to someone else, because someone is going to profit from the rock bottom prices on offer. Remember, if you don't make an offer, someone else will. Either way the previous owners aren't going to profit from the sale, what's done is done and there's nothing you can do about it. It's unfortunate, but that's the way the cookie crumbles as they say in the US. 

See a list of foreclosed property in Florida here

If you'd rather not browse through the properties on the site and would just like to be sent information on available foreclosed property available in Florida, simply fill in this form and we'll have our partners send you an appropriate listing. 

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USA Property Links

For a selection of property in the USA click here.

For a list of agents selling property in the USA click here.

For independent articles on overseas property click here.

For advice on purchasing in the US click here.

For news on the US property market click here.

For new releases and product updates from US agents click here.

For a selection of property exhibitions featuring American property click here.


Blindly Led said...

I have a property in florida that i can no longer afford - mortgage of 300k - sales price of 240k on similar foreclosed ones. Bank very difficult to talk to - continue to charge 8.75 interest - what are the consequenses for me if I just walk away as an irish resident? said...

Blindly Led,

The immediate consequences are that the bank is entitled to sell the property at whatever value it can achieve and then seek payment of the balance due from you. For instance, if they can sell it for $200k and you still owe $300k, then they can follow you for the $100k balance plus any interest due.

In reality, whether they come after you or not depends entirely on the cost to reward ratio for the bank. If they feel it will cost too much to justify the expense involved in recouping the loss then they will not bother. The debt will, however, remain in your name in the US so I wouldn't make any plans to visit if I were you, you'll be collared at the airport and chucked in jail - Homeland Security ensure that they actually manage to connect the dots.

With harmonisation of revenue gathering activities across the EU (being largely driven by Charlie McCreevy) it is very likely that, in years to come it will be possible for banks to follow such debts across borders. In such a case you could find that this debt comes back to bite you at a later stage.

Simply put, walking away from the debt is not the first port of call you should consider.

If you register on the website you can list the property for free. Drop a mail to if you want it featured in our next newsletter.

In fact, we're considering a newsletter featuring only 'For Sale by Owner' properties at some stage in the near future, so it may be worth getting in touch.

The team.