Buying a Pre-Foreclosure Beach Property

When it comes to real estate the saying goes, "they aren't making any more of it." This is especially true of beach property.

Today's real estate market, plagued by record foreclosures, may offer the best opportunity in decades to buy a beach property in FL and CA. For many the most profitable way to do this is to buy a pre-foreclosure property.

Buying a pre-foreclosure property can actually be a win-win for both parties. The seller is usually motivated to sell quickly. The buyer often has the cash to make repairs and monthly payments on the property immediately. The pre-foreclosure offers a happy medium for both groups.

Buyers considering a pre-foreclosure beach property should make sure to do their homework. Gather detailed information about the property and the reason it is up for foreclosure before you decide to buy.

7 Reasons to Buy a Pre-foreclosure Beach Property

The following is a list of key reasons to buy a pre-foreclosure beach property:

• The sale can be worked out in a way that is beneficial to both parties.
• Banks more willing to accept short sell (less than mortgage balance) to avoid foreclosure process and high legal fees
• Buyers gain by buying the property at a discount.
• Homeowners get the opportunity to dispose of the home quickly without affecting their credit rating much.
• Chances of working out a mutually beneficial and unique arrangement are high.
• The discounts associated with buying pre-foreclosures can be substantial.
• The initial cash down payment is usually low.

Buying a pre-foreclosure beach property can also profit short-term investors. By closing the deal quickly, a buyer/investor is able to make any needed repairs quickly, then put the property up for sale at a profit.

Whether you are a short-term or long-term investor, you can hardly go wrong if you buy a pre-foreclosure beach property in today's market.

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