Panama City Beach Foreclosures
The Panama City Beach Foreclosures market can be an interesting and tricky market to pursue. Many purchasers and investors have been looking to the Panama City Beach Foreclosures and Panama City Beach Short Sale market for a true deals! Well, as many have found, the Panama City Beach Short Sale market has fallen a bit short. There are many reasons for this, but the main reason is that many Short Sales are not lender approved. What does that mean exactly? Well if a Panama City Beach Short Sale has not been approved by the lender, or if there is not a point person with the lender, guess what…you could be waiting for 30-60 days to even get a counter offer from the bank!
Investors, sure they have that time…purchasers typically don’t. But you have to also ask..home many
Panama City Beach Foreclosures are the easiest and quickest way to go for a couple of reasons:
1) The bank has taken the property back
2) They have cleared any of the liens outstanding on the property
3) This includes any second or third position notes on the property…oh this is a tricky one on a Short Sale……so another reason to focus on Foreclosed property
4) Banks/Lenders are not in the real estate business.
Keep in mind that there is a difference between Foreclosures and Foreclosed. Many agents will have property listed on the MLS that you may find here on this site that are in a Pre-Foreclosure status which basically means, the bank hasn’t taken the property back.
Take some time to look around online for the homes listed under both Short Sales and Foreclosures on this site and see what makes the most sense for you and meets your needs the best. Don’t get pulled in the wrong direction. Make sure your agent is looking out for your best interest and not their own.
Both Panama City Beach Short Sales and Panama City Beach Foreclosures can be tricky, but with a qualified agent, you can make a very solid investment decision. Let us know if we can be of assistance with you in helping you find your Panama City Beach Foreclosures.