Looking for Cape Coral foreclosures need not be compared to finding a needle in a haystack. Property buyers might think that good bank owned real estate in the southwest Florida area is hard to come by, however, if you know the right places and sources to look, you can definitely find these properties. Here are some basic tips as to where to look and who to contact to find these types of properties.
Bank websites – It’s no surprise that banks and financial institutions have a department within their organizations that deal with foreclosed properties. This is called Real Estate Owned (REO)division. Many banks will show these Cape Coral
properties right on their website. Look for the page that shows the actual homes which these banks are offering but before presenting any formal interest of buying the property, it is best to contact the bank once you see something you like, get more up to date information and ask to see the property. Chances are you are going to be forwarded to the agent representing the bank for the property that’s for sale which is great because they have the most up to date information on the property’s status.
Local and other government agencies – Southwest Florida foreclosures happen right on the local government courthouse steps. Contact the court or check the local newspaper listings or call the courthouse directly for listings of upcoming auctions. However, one of the drawbacks for this method of finding foreclosed homes is that the process is fast as other potential investors are also checking for the next sheriff sale. If you ready for this type of sale then make sure you are ready to bid and win!
Whether you are a beginner or an experienced foreclosure property investor, finding Cape Coral foreclosure auctions
are easy if you know where to look. There are many avenues or sources you can go to but some of the common places where you can start your search are the bank websites, where they would have REO’s listed. Local and other government agencies would also be another source for looking for foreclosed properties. Lastly, you can also refer to auction houses that cater to foreclosed homes when planning to invest.