Foreclosed / Bank-owned / REO

Sarasota Foreclosed, Bank-Owned or REO real estate can be a wonderful opportunity for many people to pick up a home at a great price BUT you have to be careful and knowledgeable in this ball game. Many Sarasota Foreclosed, Bank-Owned properties have had very little or no maintainece and need extra work and money after closing to bring them up to normal condition (ie) leaking roofs, pest problems, plumbing, A/C repairs. They can be a maintenance nightmare unless properly inspected and even then you should be very cautious.

The Bank Asset Managers, the bankers selling the real estate, are tuff guys and play with their own rules that change often. They try to turn these real estate sales into auctions taking several offers at a time then asking for "final and best offers". Many people think these homes are always sold far below market value. "WRONG". Bank-Owned / REO homes and condos are usually for sale at or close to the true market value. I know of real estate that has had 3 seperate appraisals before the selling price was settled. Some of these homes are very good buys many are not. Be cautious and work with a Professional Realtor.
that's my $000,000.02 bg
Pete Marriott and Bill Garrison Professional Sarasota Realtors ® Prudential Palms Realty .