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.
Incredible views AND deep water protected dockage with immediate access to Ocean and Bay. Beautifully decorated Bay front home with a true 'Keys feeling' throughout. Take in the sunset from one of the many decks or the beach. 4 bedrooms, 3 baths Key West style Frame home on concrete pilings. Spacious kitchen, elevator, electric shutters and a boat lift etc. in a prime location. Florida Keys Real Estate and Homes For Sale.
Open Water Home + beach front, this spectacular 3 bedroom 2 bath home sits on prestigious Summerland Key in such a unique setting, Master Suite Over Looks Open Water + Beach, Master Suite offers private office + grand Bath + 2 balconies, upgraded chefs kitchen with granite counters, metal roof, impact windows, Access to protected canal + boat basin for your boat Florida Keys Real Estate and Homes For Sale.
Privately Gated Oceanfront Estate with boat dockage, wide sandy beach and a sparkling pool with waterfall spa. The concrete 4/3.5 main home features artistic details throughout including custom ceilings, intricate tile work, a gourmet kitchen with curved granite counter and an elegant master bath with a unique wrap-around shower. This private estate also includes separate guest quarters. Florida Keys Real Estate and Homes For Sale.
Beautiful 3 bedroom 2.5 bath Bay Front home on Sunset Cove in Key Largo, FL just pass Mile Marker 98. Property features spectacular Bay views and boat dock. Property features a private dock and Seawall with Davits. Kayak rack. Fenced in yard with Barbeque. Upstairs and downstairs porches. The house is on septic water but is available for sewer hookup. 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.
The Atlantic Ocean is your backyard playground in this gorgeous Florida Keys beach home. The home has 4 bedrooms, including a spacious, private master suite. The main living is a dramatic Great Room, with open kitchen & living areas and floor to ceiling windows overlooking the ocean. Outside, you'll find a pool with built-in water feature and an open spacious covered patio overlooking the beach. Florida Keys Real Estate and Homes For Sale.
Beautiful Oceanfront retreat. Main House is completely renovated with 3 bedrooms and 3 baths, including 2 Master Suites. Guest Cottage has Vaulted Ceilings with a full kitchen and large living area along with a private bedroom and bath. Beautiful unobstructed ocean views and private boat ramp. Oceanside Private pool and Tiki Hut. 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.
Enjoy fabulous sunsets by the Atlantic Ocean in this colossal open water home in prestigious Summerland Cove Isles - This concrete home boasts gorgeous sunsets and soothing views of the turquoise waters of the Atlantic. The home has 4 bedrooms, 3 bathrooms, including a huge second story master suite, and over 3,400 sq. ft. of living area and approximately 1512 sq. ft. of open and screened porches. 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.
This is a great commercial property that is a virtual blank slate for a developer. Formerly known as Coconut Palma's, the property has been cleared with only the shell commercial structure still standing and newly built 587 linear feet of direct ocean front dockage. The property carries 4 ROGO rights, the commercial structure and dockage w/ 22 permitted slips. The old gas tanks have been removed Florida Keys Real Estate and Homes For Sale.
Lovely executive estate located in exclusive Sombrero Isle, with 200ft of waterfront and deep water dock. The magnificent great room has a striking coral rock fireplace, wood cathedral ceiling and walls of windows. With over 5000 sq ft of living area, 4 bedrooms, office, theater room with custom bar, this home is perfect for entertaining clients or large family gatherings. All on an acre of land. Florida Keys Real Estate and Homes For Sale.
Solitude Serenity Luxury. This private oceanfront estate resting on nearly 2 acres offers a stunning illustration of contemporary Mediterranean architecture and features a gorgeous infinity edge pool overlooking the Atlantic Ocean and Dove Key. Gracious interior space plus a private outdoor setting make this ideal for both casual and formal entertaining. Florida Keys Real Estate and Homes For Sale.
Florida Keys Real Estate and Homes For Sale.
A Rare find in Islamorada, 157 ft. of Oceanfront property with fabulous ocean views, featuring sandy beach, charming 2 bedrooms, 1 bath updated concrete beach house, new fishing pier, Tiki Hut with water and electric, over one acre of oceanfront property. Can also be purchased separately; property with beach front cottage or adjacent property with a building permit. So much potential! Florida Keys Real Estate and Homes For Sale.
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.
ENJOY PEACEFUL, OPEN WATER VIEWS OVER CUDJOE BAY, outstanding boating, swimming in your back yard & local restaurants. This 1376 sq. ft. home has been tastefully updated throughout including custom kitchen with granite counters, stainless appliances, beautiful baths, wood plank floors. Relax in the heated pool w/ spill-over spa, rest in a hammock, or hop in your boat for a fun day in on the water! Florida Keys Real Estate and Homes For Sale.
Step into the beach entry pool in the nicely landscaped back yard of this Sombrero area home and start to enjoy the Keys. This 3 bedroom 2 bath home with 1,768 sq. ft. of living area has been beautifully remodeled. All tile floors, granite countertops, stainless appliances, cathedral ceilings and a large balcony overlooking the pool and canal area just some of the great features. Just a short Florida Keys Real Estate and Homes For Sale.
Spectacular Ocean Front Estate on Summerland Key! Gorgeous sunrise to sunset views over the ocean at this colossal 3,500 SF 4 BR home. The open floor plan boasts soaring ceilings, large kitchen w/center island, & 2nd story Master w/wood ceilings & private veranda overlooking the ocean. The large 1-Acre property is completely private & offers large pool w/spa & protected canal front dockage. Florida Keys Real Estate and Homes For Sale.
TWO OF EVERYTHING! Sprawling 2 story concrete home in gated cul-de-sac for ultimate privacy over looking native area on Florida Bay, Lower Matecumbe Key. Located on 2 large canalfront lots, water on 2 sides, 2 large boat basins/slips, 2 car enclosed garage & 2 carports! Multi-level 4B/5.5B w/large game room, wetbar, separate guest quarters AND travel lift to haul boats into covered boat house! 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.
OCEAN MAGIC - Colossal ocean front private estate home located directly on the Atlantic Ocean in beautiful Summerland Beach. The home and property includes 4 bedroom, 4 bathrooms, including 2 master suites, private guest house (may be non-conforming), large heated pool, Chikee hut, granite counter tops, luxury appliances, private setting, dock, boat lift and gorgeous views. Florida Keys Real Estate and Homes For Sale.
GORGEOUS POOL HOME! You will feel on vacation the moment you enter. Your own resort w/great amenities. Enjoy the pool with cascading falls, hot tubs, waterfront tiki w/outdoor kitchen & bar. Attractive & newer 3 story home. Very spacious with room for the whole family. 1/1 ground level, 2/1 2nd level and master bedroom on 3rd level. Concrete dock & mega boat lift. Seller Financing possible. Florida Keys Real Estate and Homes For Sale.