How to find Florida Keys foreclosures?
Foreclosures are a great way to acquire a property at a discount below market prices. However, the tradeoff is that buying a foreclosure home will typically take longer and will usually need more work than an on-market home.
Foreclosures typically sell for 10-20% below market value. Since the average median price of a home in the Florida Keys is around $900,000, that could translate to a savings of $90,000-$180,000, which could be worth the extra time and work required to get a foreclosure property move in ready.
Many properties will be in a pre-foreclosure status, which means that the property is in the steps of the foreclosure process, but not yet complete. This is why it can take a few months to acquire a foreclosure property in the Florida Keys.
There are some homes available that have been through the foreclosure process and ready for immediate acquisition. However, those are very few since most are purchased during the pre-foreclosure process, which is what we recommend you pursue if you are interested in buying a foreclosure property.
So the million dollar question is “How do you find Florida Keys foreclosures?” You have 2 options to find foreclosures in the Florida Keys.
Option 1: Contact a licensed real estate agent to search for you.
This will save you time since your agent is doing most of the work. If you want a licensed real estate agent to do the heavy lifting for you and you don’t want to be involved in the process of searching and researching areas, then this might be the right option for you.
Keep in mind that they might not have complete access to every pre-foreclosure property available.
Feel free to reach out to us on our contact page and we will connect you to an agent that can help.
Option 2: Search a specialized foreclosure listing website.
We have foreclosure listings that are not listed on sites like Zillow or Realtor on our foreclosures page here.
Or you can find even more listings on the most authoritative foreclosure website in the country by visiting them here.
Here is an example of some of their listings from Key West.
Foreclosures In Key West Florida
Keep in mind that foreclosed homes are almost always bank owned, so they will usually entertain lower offers than the price listed, which is what they would like to get, but might not necessarily be firm on.
So there you have it, how to find foreclosures in the Florida Keys. Feel free to reach out to us by going to our contact page with any questions or if you would like assistance finding your next foreclosure property.
