Foreclosures in Polk County FL-- Currently Rare

Foreclosures in Polk County FL are becoming more common. Polk County FL foreclosures provide a great opportunity for investors and future home owners to acquire a property which is below the market value of similar homes for sale. Below are brief descriptions of how distressed properties are typically sold.

• Foreclosures in Lakeland FL
• Foreclosures in Winter Haven FL
• Foreclosures In Auburndale FL

Selling and Purchasing Short Sales

Short Sales are not normally that common. The term "short sale" has nothing to do with how quick the home sells or how long it takes to purchase one. The home is simply sold for less than what is owed on it. Reach out to us to secure your loan pre-approval.

Selling a home as a short sale takes approval from the lender. A home owner falls a set number of months behind or loses their source of income and then requests approval from their bank. By far the best way is to use an attorney for the process and a Realtor for the sale. Most likely the Bank will require you to use a Realtor anyway. I have never seen a bank allow a homeowner to sell their own home as a short sale. Their may or may not be tax implications.

Purchasing a short sale involves approval of the purchase offer by the bank holding the mortgage. It is very common for the approval to take 2 weeks or more. Sometimes a lot more. Buying the home may take 2 months, it may take 6 months and their are various tricks and techniques to watch out for.

• Homes For Sale in Auburndale FL
• Homes For Sale in Lakeland FL
• Homes For Sale in Winter Haven FL

Foreclosures in Polk County FL

Foreclosures are just homes which are currently owned by lending institutions. They are not always a great buy. When the bank has many homes under foreclosure they get a little more urgent to sell them. When a bank has very few they demand market value. After all selling homes for low prices also effects the value of all of the homes whether the bank admits it or not.

Buying a foreclosure may have additional forms, different required forms and time frames than a typical purchase. However these homes can be purchased much quicker than the typical short sale.

How To Buy Foreclosures and Short Sales

First thing to do if you are in the market is contact us. We can alert you when the best deals become available and assist you with the purchase. You can even bookmark this page and return to it whenever you like. We are looking forward to assisting you with any Foreclosures in Polk County Florida.