Foreclosures Citrus County

Foreclosures Citrus County

If you are in the market for a new home, purchasing a Foreclosure in Citrus County may be the financial answer for you. Many homes that are listed as available for sale are foreclosed properties that you may be able to inhabit for a fraction of the cost of buying a listed or for sale by owner property. There are different types and ways of attaining the foreclosed properties such as government owned, auctions, pre-foreclosures, real estate companies, or through networking sources.

When it comes to government owned properties, the process is slower with more paperwork. The process is often a slow one because the government is not a motivated seller. The agency would rather wait for the right buyer who is willing to pay the asking price. They normally do not compromise with buyers on the price of the property for sale.

Another means of acquiring a Foreclosure in Citrus County is at an auction. Properties that are listed at auctions are normally sold for a fraction of the market value. A drawback of this type of buying is that there is a good chance that you will be bidding against other buyers or banks. These larger bidders may put the bid out of your financial reach.

Often a sale can be made directly with the homeowner when the home is in the pre-foreclosure state. This grace period for the seller offers opportunity for independent buyers to take advantage of the situation. These purchases made directly from the homeowner may involve the clearing up of previous debt by the owner who is still in control of the property.

A great source of information for finding foreclosed homes is networking. Sources such as banks, real estate agents, lending institutions, newspaper, internet, online public records, residents, and the county court house are all great places to look for foreclosed homes listed for sale. The county court house has the most accurate and up to date records, seeing that all records start and end in that building.

An REO or real estate owned property is another way to find foreclosed homes. Often real estate companies will buy properties and then list them for sale. This lender owns the property and can sell at any price even for profit. Many REO companies will negotiate somewhat with the price of their properties.

Knowing where to look and using different methods of finding Foreclosures in Citrus County may just help you to find your dream home for a fraction of the cost of building new or buying from a traditional source of realty sale. Each method of attaining foreclosed homes has its own benefits and pitfalls; however, which ever you choose is sure to save you some cash in your pocket.


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