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.
Situated on the corner of the spectacular Atlantic Ocean and the tranquil waters of Tavernier Creek, this private gated point lot property boasts vast open water views while offering expansive protected dockage with 2 boat lifts. The main house has an elevator (3 floors) or stairs leading to the first living level with a centrally located island kitchen, dining area, office and great room with Florida Keys Real Estate and Homes For Sale.
Unique Islamorada Waterfront Home in Desirable Venetian Shores! This home features beautiful gourmet chef kitchen, soaring ceilings, master suite w/balcony & lovely water views, 3 bedrooms plus family room w/closet, 3 full baths, lots of privacy with secluded view of sanctuary! Gin clear water, offers a beautifulaquarium like setting, 70 of dock, room for your Yacht, instant access to Ocean/Bay! Florida Keys Real Estate and Homes For Sale.
SANDCASTLE, BLENDING LUXURY WITH TOTAL COMFORT - This custom-built, direct oceanfront, 4 bedrooms, 4.5 baths masterpiece exudes Coastal Island Style living in Islamorada, Florida. Built & expertly designed with meticulous attention paid to every detail and fine craftsmanship throughout, this architecturally striking, state-of-the-art smart house boasts magnificent and expansive ocean views, an Florida Keys Real Estate and Homes For Sale.
PRIVATE OCEANFRONT ESTATE WITH PROTECTED DOCKAGE! This outstanding home is located in a private gated community in the Village of Islamorada surrounded by multi-million dollar homes. Featuring outstanding ocean views from almost every rm, in ground pool, dockage, impact windows, 4 bdrms, 3.5 bthrms, open floor plan w/soaring ceilings, huge master bdrm ste., 3 car garage, work shop,& so much more! Florida Keys Real Estate and Homes For Sale.
Miami Beach architecturally designed and custom built Bay front estate home in north Key Largo. Custom finishes include elevator to 3 elegantly appointed levels to include symmetrical design with a decorative flair that captures the essence of grand luxury. Guests and large families will enjoy this simplistic waterfront lifestyle with over 3500 sq. ft. of living space, and endless bay views. Florida Keys Real Estate and Homes For Sale.
A multitude of opportunities arise at this oceanfront property. Existing 2bedroom/2bath home has been adoringly restored with beautiful new pool, spa and deck overlooking the vast green lawn, boat basin and sparkling ocean beyond. The Village of Islamorada recognizes 4 single family home building rights and 3,255 square feet of commercial building rights attached to this property. Florida Keys Real Estate and Homes For Sale.
This well built home is located in a sought after Ocean-side subdivision on Plantation Key, right off Tavernier Creek. Be in the Ocean immediately & through the Creek into the Bay in just moments. On the main living level there are 3 bedrooms and 2 bathrooms. One large room with full bath on the ground level is currently being used for storage. Fully tiled inside and out with lovely views down the Florida Keys Real Estate and Homes For Sale.
Ocean Front Estate 2 story CBS home with Old Florida charm located between Key Largo and Ocean Reef on over 2 acres, has over 500 feet of direct ocean front, and panoramic ocean views from almost every room! Enjoy the private beach, pier, tarpon fishing and large boat basin with a boat lift for docking your boat. This spacious home has 4 BR including a master suite on the main living level. Florida Keys Real Estate and Homes For Sale.
TROPICAL OCEANFRONT PARADISE in Islamorada w. 90ft of sandy beach, a boat basin & pool. The property is fully fenced and offers a 3 bedroom main residence w. a second living area which could be another bedroom & a separate 1/1 guest cottage. Both homes are of superior construction w. concrete roof(partial). Enjoy beautiful Ocean views & breezes on the screened-in porch and relax on the beach Florida Keys Real Estate and Homes For Sale.
Open water getaway directly on Florida Bay with dock & boat lift in desirable Buccaneer Point. Unwind in this charming island-style 3/2 home on an oversized lot with fenced backyard, swim spa and outdoor shower. Kick back on the bayview screen porch or in the large top floor master with bay view balcony. Offset your expenses with repeat rentals! This perfect Keys retreat is only an hour from Miami Florida Keys Real Estate and Homes For Sale.
Private and gated, this exquisite long-driveway Oceanfront Estate with over 450 waterfrontage & deep water dockage, set on over 6 acres including bay bottom is offered for the first time in decades. Pristine beachfront cabin with wide water views from the oceanfront porch built in the 1930s with additions in 2005-06. Three bedrooms, three baths, outside shower, garage, downstairs storage. Florida Keys Real Estate and Homes For Sale.
Buccaneer Point Beauty! You will fall in love with the unobstructed views and sunsets over Florida Bay! Present owners have meticulously maintained this home so that you can move in and relax and enjoy the pool, dock, boat lifts and gorgeous open living space and fabulous kitchen. Vaulted ceilings and a wall of windows bring the outside in for comfortable Florida Keys living at its best! Florida Keys Real Estate and Homes For Sale.
Rare offering in Port Largo with this British West Indies inspired custom designed waterfront home. Featuring two separate living areas, formal dining room, 4 bedrooms, 3 en suite baths, master jacuzzi tub with seamless showers, and teak indoor bar. Chef inspired custom cherry hardwood kitchen is equipped with gas, top of the line SS appliances, granite island, wine cooler and large laundry room. Florida Keys Real Estate and Homes For Sale.
Truly Unique! In Islamorada,a Mediterranean style residence featuring a private boat basin expandable for a large boat, elegant pool and waterfall spa with entertaining bar area. This 4 bedroom 3 bath home boasts an open floor plan, with a beautiful gourmet chefs kitchen, lovely sitting areas overlooking the water, lower level guest quarters. Awesome location, with instant bay and ocean access. Florida Keys Real Estate and Homes For Sale.
Estate on the Ocean. Metal roof at this modern brand new five bedroom and five and one half bathroom home, with one large media room. Beautiful pool and spa at your back yard with grand open water views. Elevator for your pleasure. Huge master suite on the top floor with master bath offering a jacuzzi tub and lots of storage. Walk on your outdoor pier over the open water and enjoy the blue and Florida Keys Real Estate and Homes For Sale.
BOATERS PARADISE ON TAVERNIER CREEK! This like-new contemporary pool home situated on an oversized lot offers 80 of waterfront and deep-water dockage for up to 5 boats plus 2 lifts. 4bd/4.5ba all concrete, metal roof, impact windows and doors, huge gourmet kitchen, large porch off great room and master suite overlooking Tavernier Creek.Outdoor kitchen and entertaining area to enjoy the FL Keys! Florida Keys Real Estate and Homes For Sale.
The Heron House at Tarpon Point overlooks the ocean front pool and offers open water ocean views. This spacious 4 bedroom, 4 bath home is well appointed with custom cabinetry, granite counters and elevator. Chefs kitchen with stainless steel appliances and dual-fuel Wolf range. Whole house generator, California closets and impact resistant windows and & doors. Amenities include Florida Keys Real Estate and Homes For Sale.
MADEIRA BAY SUNSETS IN ISLAMORADA! Directly situated on Florida Bay, Upper Matecumbe Key in gated enclave offering deep water dockage & common pool for all 8 residences. Custom 4B/3.5B residence, panoramic open water views from all 3 levels, multiple porches to watch year round sunsets, 3rd level master suite, above flood ground level guest quarters, 2 car garage & 16 ft wide dedicated boat slip! Florida Keys Real Estate and Homes For Sale.
The Mariner (Bimini Blue overlooking marina) and its +/- 4,250SF three story structure sits on +/- 51,000SF of land and is offered at $3,888,888.88(includes 1 marina slip). The Little Mariner guest house that is located adjacent to the Mariner is a three story, 1,800SF structure with an additional boat slip attached that can be purchased along with the Mariner for $1,250,000. $5,138,888 for both. Florida Keys Real Estate and Homes For Sale.
Stunning beachfront Villa on gorgeous Florida Bay. The property features a walk in white sandy beach and incredible dockage with 20,000 lb boat lift. Celebrate the year round sunsets from the large pool and outdoor entertainment area. Enjoy the aquamarine bay views from the living areas and master bedroom. The main house features 3 bedrooms, office, 3.2 baths and detached 1/1 guest house. Florida Keys Real Estate and Homes For Sale.
120 of frontage on Tavernier Creek! This incredible home has over 3100 sq ft of living space on 2 floors. Legal downstairs w/ family room, 1 Bed/1 Bath. Upstairs features open kitchen, dining & living area; Master suite plus 2 more bedrooms & bath. Large, screened porch across the width of the 2nd level with water and mangrove views. 1 1/2 lots, fenced with pool, tiki bar & fire pit! A Must See! Florida Keys Real Estate and Homes For Sale.
Palatial Port Largo! Three floors encompass this spacious home. Children can play endless games of hide-n-seek, adults can escape to a quiet place, or all gather together to create memories. Immense outdoor living space for all to enjoy! Ground level screened porch houses the hot tub and overlooks the pool, which is surrounded by a privacy fence; 75 concrete dock is just steps... Florida Keys Real Estate and Homes For Sale.
Attention engineers and those with impeccable taste! If quality is what you desire, look no further. A breath away from completion, this custom 5BD/3.5BA open bay view home is built to last. Metal studs, double poured concrete, imported finishes, and the best views money can buy. Located near the ultra private, quiet end of Buccaneer Points peninsula and just off of the intracoastal waterway. Florida Keys Real Estate and Homes For Sale.
Without exception, this may be one of the most unique luxury waterfront private enclaves in the Keys. Interconnected living quarters, extraordinary design, decor, construction, location, privacy, dockage, water depth, wind resistance, luxury, storage, multiple garages, beach, camera security, gated entry. The discerning buyer who can have anything they want with the privacy of a pocket estate. Florida Keys Real Estate and Homes For Sale.