Tampa Bay Real Estate Blog

I think there is alot of confusion about what to expect when buying a Tampa Foreclosure, so hopefully this will clear just a few things up.

1. This is not a transaction where you can dictate the closing date.  Banks are scrambling to keep up with the avalanche of homes going into Foreclosure and Short Sales.  The banks want to get these homes off their books as fast as they can, but they do not currently have the policies or personal in place to handle this.  You must be patient as they deal with this situation.

2. Make sure you have all your financing in place.  This is no different than buying a "regular" home.  The banks do not want to "mess around" with people "just looking".  You will not be taken serious and the bank will not respond to your requests or offers.

3. The banks have NOT "lived" in these homes so there will be no property disclosure, nor do they want to offer you a warranty.  They do not know anything about the home and you will, in most cases, be buying this home "as is".  Get an inspection!  You can negotiate based on this report, but make sure your Tampa Realtor knows what they are doing!

4. The Bank's don't care what your situation is.  This is not a typical seller.  There is no emotion involved with the bank.  This is all economics and accounting, so if you think that you can get into a serious negotiation with the bank, think again.  The bank knows what they need for that property, and that is pretty much what they are going to tell you.  Don't get me wrong, the banks will negotiate, but they already know what their "drop dead" price is and will not go any lower than that.

So if you are serious about buying Tampa Foreclosures, Team Masse is a group of "no nonsense" agents that have worked extensively with the banks and lenders.  We have formed relationships with many local Financial Institutions to help expedite your transactions as well as assist you in establishing that "drop dead" value that the banks will not go below.  So when you are ready to buy, please let us know!