NaplesFinder.com | Naples Florida Real Estate Searches, Naples FL Homes for sale

       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:

property image

$815,000

7505 Lantana Cir, Naples

Spectacular Olde Cypress home built in 2014. 4-bedroom, office/den, 3.5-bath & a 3-car garage - the Orchid II floor plan. Beautiful private screened lanai. Impact-resista...

  • Beds4
  • Baths3.5
  • MLS220079691

property image

$410,000

2323 Pinewoods Cir Unit 13, Naples

Hud owned property and sold "as is." to place a bid with hud go to hud. Brokers must be registered and have an active hud naid number to show and submit a bid. Print ...

  • Beds3
  • Baths3
  • MLS220069105

property image

$14,250

746 Eagle Creek Dr Unit 102, Naples

Outstanding Southern Naples Location Close to Downtown Naples and Marco Island! This 1 Bedroom, 1 Bath First Floor Unit in the Exclusive Eagle Creek Golf & Country Club o...

  • Beds1
  • Baths1
  • MLS220020210
  • Bldg.Eagle Creek

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.

Free Daily Email Updates

  • Automated home searches
  • Favorite properties
  • Email updates
  • And much more…