Purchasing a home through a Florida Public Auction does come with a lot of risk. You are buying the property “as is”. That means you can not go in an inspect it, and generally people who have fallen behind on mortgages don’t always properly maintained the home.
When going into a Florida Public Auction you may encounter other savvy bidders that purchase homes through Florida Public Auctions for a living.
Another downside to purchasing homes through Public Auctions is that you will not be able to finance the home so you must pay cash. Mortgage companies will not finance auction properties because they can not inspect or appraise them.
Purchasing a home through a Public Auction can yield substantial savings. Generally, a home that is bough through an auction sells for about 40% below market value.
If you are interested in purchasing a home through a Florida Public Auction you need Karen Arbutine and Associates on your side. They can provide you a list of homes in the Greater Orlando market that are up for a Florida Public Auction and come up with a bidding strategy for the value of the home or homes that you are wishing to bid on.
Call Karen Arbutine and Associates at 888.727.7778 today for more information on Florida Public Auctions.
Click here to browse Florida Public Auction Homes
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