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Foreclosures for Sale in Naples Florida
Naples Florida Foreclosures by Price Range
| $0 to $200,000 | $400,000 to $600,000 | $800,000 to $1,000,000 |
| $200,000 to $400,000 | $600,000 to $800,000 | Over $1,000,000 |
See ALL Foreclosures for Sale in Naples Florida HERE
The difference between Foreclosures and Short Sales
- When a home is listed as a foreclosure, the lender has already taken posession of the property and holds the title. Foreclosures in Naples FL can sell rather quickly and multiple offers are really common. Don't be surprised if the lender will not respond to offers for a number of days (sometimes 3, sometimes 7 from the listing date), giving several interested parties a chance to submit their offers. Once all offers colected, the lender will request a "higher and best" counter offer from all buyers. Keep in mind that "highest" offer doesn't necessary means "best". A lender might accept a slightly lower cash offer vs a financing offer, to expedite the process and reduce complications (appraisals, insurance, lenghty process, etc).
- When a home is listed as a short sale, the homewoner is still involved in the transaction. The contract on a short sale will be signed by the buyer and the seller but it is contingent upon seller's lender's approval. It is important that the seller is working with a competent listing agent, a real estate attorney and a negotiator, to speed up the process. No short sale is similar to another. Some of them can take 2 months, some can keep you burried in hope and uncertainty for more than 9 months. A common trait for short sale listing agents is to price the property unrealistically low. Since a seller needs an offer in order to submit a short sale package to his lender, obtaining an offer fast is imperative. Before you get lured in by ads like "lowest price in the neighborhood" or "incredible deal", have your buyer's agent give you a realistic opinion, based on comparable sales, and have your real estate attorney check the financials. The first thing a lender is going to do when being faced with a short sale proposal is to get the property appraised. It is better to find out the real number in the begining than after 6 months. Careless buyers that get caught in the process and can't come close to the new value set by seller's lender will have to drop out of the contract, leaving room for a new buyer. Now, the short sale is advertised as "pre-approved", which means the lender has already priced the property at the number they want and they're ready to close within a month.
Naples Florida Short Sales by Price Range
| $0 to $200,000 | $400,000 to $600,000 | $800,000 to $1,000,000 |
| $200,000 to $400,000 | $600,000 to $800,000 | Over $1,000,000 |
See ALL Short Sales in Naples Florida HERE
Very important, no matter what type of distressed property you are interested in, ALWAYS have your own buyer's agent and ALWAYS have your own real estate attorney. All distressed properties are sold "As-Is", so make sure to run ALL inspections possible and bring contractors to give you real estimates on repairs. Banks do not pay for repairs, so make sure you have them all done quickly. This way you can decide if you stay in the deal or not before your inspection period runs out. Although the contract you submitted initially could allow 15 days for all inspections, most lenders will send out an amendment that can cut that period to 7 days. If you see the inspection period cut to 3 days (it has happened), walk away. Mold sampling has to be sent to the lab for analysys and radon reading can take a couple of days. Other things to watch out for include a predetermined value for repairs, allowing you to walk away "only if the repairs are over an x amount" and escrow requirements. Send the escrow money too late and you can be in default AND lose it. That's why is imperative you have your own real estate attorney. As a matter of fact, a real estate agent is not allowed to explain a lender's an amendment, it's considered "acting as an attorney" and illegal. Always be wary when you hear from a listing agent "just sign it, it's standard". There is no such thing as a "standard" amendment, every lender has their own team of attorneys and spend tens of thousands of dollars to make sure they are covered. Your real estate attorney has probably seen them all and knows where to look for pitfalls and "traps", besides making sure the title conveyed is clean.
With all that being said, don't get hung up on looking only for short sales and foreclosures in Naples, Florida. Some prime areas, like Aqualane Shores, Port Royal, Olde Naples, Park Shore, Moorings, Pelican Bay, Vanderbilt Beach and Luxury Golf Communities will hardly ever have them, and a motivated seller or an estate sale could be a much safer, better deal. To wait for a distressed sale to pop up in a highly desirable area t(hat is also prime property) could be a lenghty process. Not only an improbable option but it can also cause you to miss the market and end up in abidding war anyway. The best advice would be to check for the best deal at the time rather than wait for one, it may never happen.
Featured foreclosure listings in Naples FL:
$999,900
761 99th AVE N, Naples
Welcome to this paradise retreat in the Gulf Coast of Florida. NO HOA, NO RENTAL RESTRICTIONS, FULLY REMODELED pool home in Naples Park. West of US41, close to dining, sh...
- Beds4
- Baths2
- MLS224078733
$989,900
6733 Bent Grass DR, Naples
Welcome to 6733 Bent Grass Drive, an exquisite 3-bedroom, 3-bathroom pool home nestled in the prestigious Lely Resort community's Masters Reserve. This property epitomize...
- Beds3
- Baths3
- MLS224071845
$654,900 ▼
1211 Egrets LNDG Unit 101, Naples
Price Improvement! Completely renovated unit in desirable Egret's Walk at Pelican Marsh. This gorgeous home features new luxury vinyl tile flooring and fresh paint throug...
- Beds2
- Baths2
- MLS224066982
- Bldg.Egrets Walk
$424,900 ▼
1170 21st ST SW, Naples
Don't miss this updated 3 Bedroom, 2 Bath one level home in Golden Gate Estate just off White Blvd with a new roof! Property feature new luxury vinyl floors throughout, U...
- Beds3
- Baths2
- MLS224072591
$180,000 ▼
207 Palm DR Unit 2, Naples
Don't miss this 2 bedroom, 2 bath, second floor condo unit in Glades Golf & Country Club!!! The Glades Golf & Country Club offers unlimited play of golf on two recently r...
- Beds2
- Baths2
- MLS224049176
- Bldg.Glades Country Club
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program (BR Program) of M.L.S. of Naples, Inc. Properties listed with brokerage firms other than this company are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available through the BR Program. The information provided is for consumers’ personal, non-commercial use and may not be used for any other purpose.
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Kevin Lottes is one of the very few people in the Naples FL Real Estate world that I trust completely. I've had the good fortune of meeting him at the very begininng of my career and have used his outstanding services exclusively for the last 10 years. Kevin is one of the top board certified real estate attorneys in Naples FL and is a true specialist in all facets of real estate: foreclosure, short sale, probate, regular and complex real estate transactions, construction law, real estate development, mortgage lending, commercial transactions and many more. His integrity and professionalism have prompted the Naples Board of Realtors (NABOR) to select Kevin Lottes and his expertise in regards to changing the contracts we all use as REALTORS®, hosting lectures or teaching specialty classes to brokers and agents. Here, at the www.NaplesFinder.com group, Kevin Lottes is a constant presence and a guarantee for a successful transaction.
NaplesFinder.com Testimonials:
"Buying a home can be a stressful experience. Buying a home in a city that is 2,000 miles from where you live can really add to the stress level. We were fortunate to be able to work with Andrei Apostu to purchase our dream second home in Naples, FL. Andrei is extremely knowledgeable of the Naples real estate market, but beyond that, he understands how to meet the needs of his customers. He took great care in quickly ascertaining what we liked and didn't like about the first few listings we saw. That enabled him to work effectively for us, long distance, in eliminating properties from our interest list if he didn't believe they would meet our needs. The Naples market happened to be heating up substantially during our search, and it got to a point where listings were going under contract quicker than we could schedule a flight out to see them. Andrei again stepped up to the plate. He visited new listings on our behalf to determine if they would meet our needs, and was even willing to send us videos of the properties. Andrei is up-to-date on all aspects of technology (email, text, video, etc.), which was truly helpful given that we often needed to communicate while traveling. Working with Andrei is like spending time with a trusted friend, greatly reducing the stress associated with home buying. We wholeheartedly recommend him to anyone needing a realtor in Naples!"
B. & C. Paige
"We highly recommend Andrei for his knowledge of the real estate market in the Naples area. He was available for us on short notice, as we flew in from Michigan, and was very helpful in identifying properties based on our specifications. Plus, we had a very pleasant time visiting properties and learning more about this gorgeous area with Andrei! Thank you."
Heidi & Jean-Pierre
