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Bank Owned Properties

The Central Florida Market right now has about 40% to 45% of all the listings currently on the marker as either Bank Owned, Short Sales, or Foreclosure properties. This is great news for buyers because properties have drop tremendously in value over the past two tears. The main difference between the three are as follow: The Bank Owned Properties have already gone thru the foreclosure process and are now owned either by a Bank, a Lending Institution, or by a Corporate, When buying a Bank Owned property the response time of them accepting your offer from these institutions can take just a couple of days. Compare to a short sale that can take anywhere from 30 days to over 90 days.

Short sales or Foreclosures are properties that pretty much the owners are upside down on the mortgage, can not longer afford to keep making the payments, or they owe more on the home than what the home is worth. This last scenario is pretty much the typical reason why we see so many short sales and foreclosure properties in Central Florida. Keep in mind that if you decide to buy a short sale or Foreclosure property be ready to put on your patience hat because it can take anywhere from 30 to over 90 days for the bank to response to your offer.

Sing Up for Our Free Central Florida Bank Owned Property alert and be among the First people to know about these properties

You can Also visit our Central Florida Communities Page where you can go read and learn about the best communities Central Florida has to offer. In addition, go and fly with us as we take you on 3-D Google Earth Tour of your favorite Community around Central Florida.

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