Guidance Through The Process Of Acquiring A Bank-Owned Property

The major volatility across all sectors of the Florida real estate market in recent years would be difficult to overstate. As a result of many people’s economic adversity, questionable lending practices and other factors, homes and other properties acquired by banks through foreclosure — most commonly called real estate-owned (REO) properties — are continuously available.

Are You Interested In Buying REO Property? Problems Involving Title?

Whether an REO or bank-owned property in the Sarasota area represents a good opportunity for a homebuyer or investor depends on many factors. If you are actively exploring this market, or if you have made a purchase and run into title issues, we encourage you to consult with us at the Riddell Law Group.

Led by Jeff Riddell, a specialist in real estate law as certified by The Florida Bar, our firm is a full-service resource for people pursuing all types of residential purchase transactions, including those considering buying a home in foreclosure. In addition to serving as title and closing agents, our lawyers and professional team actively protect our clients’ interests by:

• Thoroughly advising prospective buyers of unique risks associated with REO properties, including potential title issues, challenges associated with currently occupied homes and unknown problems with “as-is” home conditions
• Exercising rigor and diligence in conducting title searches and in reviewing all contracts and any purchase contract agreement addendum associated with the transaction