Lenders can foreclose Florida Keys homes for other reasons, but the most common reason lenders file a notice of default is when a borrower is at least two payments behind.
If the Fl Keys home owner does not bring the loan current, the lender will take the property away from the owner. In the final step of the foreclosure process, the lender tries to auction the property at a public sale.
Not all Florida Keys foreclosures that fall into foreclosure go to public sale because owners have the right to make up back payments up to a point, the time which varies from state to state. Also the property can be bought in pre-foreclosure during the short sale process.
Real estate investors and home buyers see profit in buying foreclosures because they can often buy the property for the amount owed, picking up the home owner's equity for free.
Unlike a foreclosure, investors typically buy the home for even less because investors are not paying off the existing loan nor making up the back payments. Investors are striking a deal with the existing lender to take less than what the lender has coming to avoid dealing with a foreclosure.
It's a myth that lenders are not going to make a deal with an investor unless the seller has fallen behind on the seller's obligation to make timely mortgage payments. Sellers don't need to be in default for a short sale to occur. For a buyer who wants to occupy the home, buying a Florida Keys short sale makes financial sense.
Buying a Florida Keys REO is similar to buying a Florida Keys short sale except the property is already owned by the lender. The property was acquired by the lender through a foreclosure action. Often lenders will sell repossessed homes for less than the past loan balance. Bank-owned properties are called REOs, meaning real estate owned by the lender. Banks end up owning the property when nobody at the public auction bid enough to cover the amount owed against the property. Florida Keys REO homes are often considered the best way to buy a distressed property because the seller is already out of the picture. It's just the Florida Keys investor, the investor's agent, the bank and the real estate agent who are negotiating the transaction. Some Florida Keys Bank Owned REOs can be purchased directly from the lender although it is highly recommended to buy any real estate property through a Florida Keys real estate agent to protect the buyers interest and negotiate the best possible price.
PRIVATE POINT LOT W/VIEWS! 579ft of water front. Acre plus property, 250ft of open water. 329ft.on 2 canals. Dock with wave runner davit. Boat basin with H20 & full seawall. Concrete Wall entrance, electric gate/security system. 3872 sq.ft home built for category 5 hurricanes. Impact windows/doors. 4 master suites. Designer Pool w/waterfalls. Generator & Huge Reserve Water Storage 6 Car Garage. Florida Keys Real Estate and Homes For Sale.
Unique Opportunity to own the entire End of Street (TWO LG.LOTS) in Key Colony Beach. Spectacular Water Views. Water on 3 sides having over 550 feet of brand New Sea Wall. Home has 2 bedroom 2 bath 1585 sq ft with a two car garage all on the eastern lot. Both lots together have 36,328 sq ft. Selling as one parcel. Many possibilities to consider. Alt Key for vacant lot is 1077445 RE# 073360-000000 Florida Keys Real Estate and Homes For Sale.
Beautifully renovated home in Duck Key on a fabulous canal with instant access to the ocean or gulf of mexico by boat. Legal lower level enclosure. Granite countertops and new wood cabinets, bath features include custom tile and seamless shower enclosures. Pool with hot tub and large deck areas provide great outdoor gathering spaces. Florida Keys Real Estate and Homes For Sale.
Discover Mariposa. The spectacular architecture inspired the name of this magnificent oceanfront estate that spans 120 ft. along the beach on Grassy Key in the beautiful Florida Keys. Secluded behind a privacy gate, this Bali influenced contemporary home is designer/contractor owner's own home. Built to standards in which only the absolute best of everything would do. Green built and Florida Keys Real Estate and Homes For Sale.
Florida Keys Real Estate and Homes For Sale.
Immaculate home with 2 brs 2 bths up and a permitted family room and full bath on ground level. Covered and screened porches overlooking crystal clear canals and 170+ feet of deep water dockage with davits and ample room for all the water craft. Only minutes from the open Bay. Beautiful homeowners park with sandy beachfront. Florida Keys Real Estate and Homes For Sale.
Newly built 3/3.5 + Den CBS Oceanfront Pool home boasting nearly 3,000 SF! This property is abundant in amenities including an oceanfront pool w/spa & a concrete dock w/cut-in boat slip. The well appointed home is highlighted by picture perfect ocean views from all Living Areas & features soaring ceilings, granite chef's kitchen w/stainless appliances, Anderson Impact Doors & Windows & more! Florida Keys Real Estate and Homes For Sale.
Tarpon Point, an exclusive enclave of 12 oceanfront residences. Designed to meet the ultra-high standards of the developers, these exceptional homes allow for the most advanced building techniques to reside in harmony with one of the worlds few remaining untouched and fully protected marine habitats. The spacious four-bedroom, four-bath homes range from 2,700 to 3,380 square feet of Florida Keys Real Estate and Homes For Sale.
MAGNIFICENT Ocean estate located on prestigious Duck Key. 138' Deep Dockage This luxury home sits on 3 1/2 lushly landscaped lots. A heated swimming pool/hot tub overlooks the sparkling, blue Atlantic Ocean. High end designer, gourmet kitchen features Blue Louise Granite, Solid wood corbels, wine chiller, Sub Zero, Miele Dishwasher & ice maker. Mahogany front door, sliders & windows are impact. Florida Keys Real Estate and Homes For Sale.
Gorgeous tropical setting with beautiful mature palms providing privacy and a peaceful environment. Ocean Views from the 3rd level. 4BR/4BA with oversize balconies and an outdoor kitchen by the pool. All finishes are first class with travertine floors, wood cabinets and granite counter tops. 60' of concrete dock with an elevator lift and a davit for all your water toys and fish cleaning station. Florida Keys Real Estate and Homes For Sale.
FABULOUS PRICE REDUCTION! Quintessential Florida Keys Cottage! Located on the bay with fabulous views and your own beach just steps away. This home will take you back to a simpler time and a slower pace. Keep it and update or use it as a redevelopment opportunity. You will be enchanted by this location in the premier bayfront neighborhood in the Upper Keys. Florida Keys Real Estate and Homes For Sale.
Magical Bayfront!Over 125 feet on the bay with expansive views, this 4 bedroom/3bath home is a waterfront playground. It is tropically landscaped and features a bayfront pool with spa, protected deep-water dockage, boat ramp and a 2 car garage. Property has its own private sandy beach and a entertaining beachside chickee. This home is the ultimate in tropical island living Florida Keys Real Estate and Homes For Sale.
OCEANFRONT CBS w/ concrete floors on a 90x117 lot. All Tile Floors. Quick boating access. Gorgeous Sunsets, saltwater fiberglass pool & large tiki hut. Super home for entertaining inside / outside. Features 3 large bedrooms, porch with southern exposure overlooking the ocean, family room, dining room and large kitchen with pantry. Vacation rentals in place. Snorkel & kayak in your back yard. Florida Keys Real Estate and Homes For Sale.
Open water Gulf front pool home located behind the secure gates of Stirrup Key. Situated on a manicured 34,900 s/f double lot. 4 bedrooms, 3 baths, plus office and media room. Poly steel home, poured solid. One of the most beautiful kitchens in the Keys! 2 boat slips, 20K boat lift directly across the street with direct access to the Gulf. 125' boardwalk directly to the water for kayaking. Florida Keys Real Estate and Homes For Sale.
Come enjoy the Keys as they were meant to be!Fantastic panoramic views and complete privacy abound with this 2.6 acre open water, gated estate on Big Torch Key. Bordered by a 900'canal with 200'frontage on Niles Channel, the adjacent 60 acre wildlife preserve will insure absolute seclusion. This CBS/stucco home offers comfortable living in harmony with natural surroundings. The main floor Florida Keys Real Estate and Homes For Sale.
Bay front compound offers 7 residences comprised of 2 duplexes and 3 homes on over 1.5acres of prime Islamorada real estate. Immediate back country & offshore access. Dockage for multiple vessels from large to small. Lifts, davits & ramp. Bay front pool & pavilion. Gated & fenced, paved drive. Perfect for redevelopment, residence or income. Appointment required to visit property!! Florida Keys Real Estate and Homes For Sale.
Located on desirable 13th Street in Key Colony Beach where million dollar homes line the street. This canal front 3 bedroom 2 1/2 bath 2,393 sq. ft. pool home is spacious with a great floor plan. Large patio area is wonderful for entertaining. Make this your primary residence or use as a 2nd home with vacation rentals. Walk to restaurants and bars, play golf at the 9 hole par 3 golf course. Florida Keys Real Estate and Homes For Sale.
OPEN OCEANFRONT with DEEP WATER DOCKAGE, private cut-in BOAT BASIN with 3 large boat slips, davits, oceanfront POOL and expansive ocean views. Custom 4BD/3BA home provides great views throughout. An angled porch roof directs cooling ocean breezes year-round. Separate 800 sf elevated storage bldg. with parking below. Must see to appreciate the gorgeous cypress wood and stone finishes & ocean views! Florida Keys Real Estate and Homes For Sale.
540 feet of water frontage. Pier dock, 10K lb boat lift, beach, kayak ramp. Tropical features in this unique style home with Polynesian influences. Teak features on the exterior of the house. Inside you have Cathedral ceilings, coral wall features, marble wall features. Private Pool and Spa. Lush landscaping, 2 car garage and a 2 car Carport. On the end lot of Harbour Drive Florida Keys Real Estate and Homes For Sale.
Open water views directly on Tavernier Creek. Direct Bay and Ocean access. Perfect for the boating enthusiast. 1 and 1/2 lots with plenty of room for a magnificent pool and entertainment area or RV storage. Large family home with 4 bedrooms and 2 1/2 baths. Tremendous dockage with cut-in boat basin and large boat lift. Beautiful views from living room, kitchen,family room, and master bedroom. Florida Keys Real Estate and Homes For Sale.
Located on Hurricane Creek on Lower Matecumbe in Islamorada, this 7 bedroom 6 bath w/90ft of yacht dockage for power or sail awaits your arrival. 15K boat lift. Elevator, 2 car garage, enormous kitchen, water front swimming pool, screen enclosed patio and balcony overlooking the creek & Florida Bay, this magnificent home offers views of both! Make an appointment today with listing agent! Florida Keys Real Estate and Homes For Sale.
This unique large parcel in the heart of Islamorada is an outstanding oceanfront property. The original buildings have been lovingly refreshed creating an exquisite beachfront retreat!Very popular as a vacation rental, appointments for showings are required. Florida Keys Real Estate and Homes For Sale.
Elegant 2,868 sq ft home 3 bedrooms, 2.5 baths, sits on a 19,000 sq ft lot, minutes from the Atlantic Ocean and Gulf of Mexico, offers many customs features, formal Dining Room, soaring 16 ft high ceilings, all 8 ft doors bamboo flooring, custom woodwork, Master Suite with French Doors that lead to Screened LanAI and Library, 163 ft Concrete Dock with 2 boat lifts, fish cleaning table,3 car garage Florida Keys Real Estate and Homes For Sale.
End of Season Price Reduction! Located on the Atlantic Ocean in The Heart of Islamorada situated just above the beach for enjoying spectacular sunrises as each day begins. Gated Estate located on the quiet side of the Island .... the Old Highway. Main House features three bedrooms, three baths and expansive waterside patio surrounding the pool, tiki bar, breezy gazebo, and dock. Florida Keys Real Estate and Homes For Sale.