Foreclosures

What is a foreclosure?

Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession) of the property securing the loan. The foreclosure process begins when a borrower/owner defaults on loan payments (usually mortgage payments) and the lender files a public default notice, called a Notice of Default or List Pendings.

Why buy a foreclosure?

Home buyers who want a good deal in real estate invariably think first about pursuing foreclosures. Buyers have this picture in their mind of a cute little house, surrounded by a white picket fence that is owned by a widowed mom who fell on hard times, but that scenario is generally far from reality. Call us to get more information and to educate yourself on the advantages and disadvantages of purchasing a foreclosure.

South Florida Premier Properties can assist you with the purchase of a foreclosure, a short sale or numerous other real estate properties.

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