Foreclosures are also referred to as bank-owned properties or REO properties. They offer opportunities for deals and steals but should always be approached cautiously. These properties should be well researched and thoroughly inspected prior to a purchase. They are typically sold As-Is with a right to inspect. Foreclosures are often sold at a discounted price but the buyer is purchasing the home with any defects. It is particularly important that a buyer work with an experienced REALTOR® that can guide them safely through the process. The seller is actually the bank and the purchase is competitive. They are less concerned with customer service than recouping their losses and their production line process may seem cold. Call Gulf Shores Realty at 941-488-6644 and ask to speak to a REALTOR® to obtain a current list of foreclosures available for purchase.

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