FORECLOSURE = A procedure by which the holder of a mortgage, usually a lender, seizes custody of a secured property and sells the property upon the failure of the debtor to pay the mortgage debt and, thereby, terminating his or her rights in the property.
The MLS Detectives Group has been representing both buyers and lenders in the sale of foreclosed properties for many years; and quite honestly we are very good at it!
These transactions can range from being quite simple to extremely complex but in most every case they are an excellent buy, and are worth the time and effort if you have the patients and the right representation. The MLS Detectives Group can provide such assistances.
It’s worth noting that just because it currently shows ACTIVE, does not necessarily mean the property is still available, as it can take up to several weeks for the selling agent to receive executed papers back from a lender; it’s only after that time that a property can be marked PENDING on the Multiple Listing Service. Check with us to verify the most current status of any give property.
Mike Federau, The #1 Realtor in Sarasota County Forclosures neighborhood