Given my analytical approach to buying, selling and leasing real estate, I attract real estate investors as clients. I am able to break down the market in qualitiative and quantitative terms in order for the investor to better understand the market and execute on their investment plans.
Many times I am asked about potentially buying homes at auction. I caution people to be careful. A case in point is the recent article in the Sun-Sentinel in the September 23rd issue in regards to online auctions in Broward and Palm Beach counties.
The gist of the article surrounded around people who thought they bought homes in the public auction only to find out about a "poison pill" embedded. The homes they bought were then foreclosed on by one or more banks.
Some investors who bought auctioned homes that were foreclosed upon by a homeowners association, were then being foreclosed upon again by banks. Essentially the homeowners association debt was auctioned under the guise of a foreclosure auction.
Investors think they are getting a great deal only to learn they bought a worthless second mortgage or other liens, according to Lloyd McClendon, who heads 1Auctions.com, which runs the online foreclosure acutions for Broward County.
Title searches and other measures should be done to be sure you know what you are bidding on. In my opinion, those looking into foreclosures should work with an attorney. Another avenue to look into is working with a Realtor on homes that are listed with a broker.
As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.
For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com
Referrals are appreciated and welcomed.
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
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