Daniel’s Preserve Bank Owned Homes
In this crazy world of foreclosures and short sales, the average consumer isn’t so average any more. They are smart and want a GREAT deal. People now know that foreclosures and short sales are where to get these deals.
There are many reasons why people are so attracted to Daniel’s Preserve, but one of the more recent reasons is the fact that the Daniel’s Preserve bank owned homes are undoubtedely one of the best deals on the market.
Let’s take a look at what it means to be bank owned, how do Daniel’s Preserve bank owned homes exist? It all starts with the previous home owner not paying their mortgage. During that time frame, the owner either did not try to get a short sale done and come to terms with the bank, so the bank (mortgage holder) was forced to continue with the foreclosure proceedings against the property. Eventually they homeowner would get an eviction notice and the home would go to the Sheriff’s auction, at which time the bank did not receive a bid high enough for them to sell the property on the spot. They then take back the property and it becomes bank owned or “REO” (real estate owned).
Now, in Daniel’s Preserve, there are just over 200 homes, so you can imagine there are not a significant amount of Daniel’s Preserve bank owned homes. When they come on the market, they tend to sell VERY fast and a lot of time they sell for above asking price. This is very common in this market. You’ll need to make sure that you do not let all of the news stories about the market influence your bid on one of these bank owned homes. I’ve seen time and time again someone who loved a specific bank owned home but wanted to make sure they got the best ‘deal,’ just to lose the home because they were outbid.
You obviously do not want to pay too much. That’s why it’s a great idea to hire an agent familiar with the process and the prices in the area.
As always, I’m providing you here with a list of the current homes for sale in Daniel’s Preserve. You can also find the Market Report for Daniel’s Preserve. It has great information for you, whether you are looking to buy or sell in Daniel’s Preserve.