Cape Coral Foreclosures - Why to buy and Some Useful Tips

Cape Coral is the largest city in Southwest Florida in Lee County. Buying Cape Coral foreclosures would be a good option due to extensive availability of foreclosure properties at highly discounted rates in this second largest city in Florida.

Foreclosures are properties that are available at 10 to 50% discount from banks and government institutions that are looking to recover their unpaid loans or taxes. They are not bothered to make profit out of it as they are not into real estate business and thus sell the properties just to recover their mortgage amount.

But Why to buy Cape Coral Foreclosures

•    The city is listed number 1 out of top 25 foreclosure cities in US  - thus lot of properties are available at highly discounted prices.

•    Biggest annual Independence Day festival on July 4. It is a fireworks festival and known as Red, White & Boom.

•    The annual Oktoberfest held similar to the one held in Germany by local German-American club since 1985.

•    Festival of Arts – Held on Cape Coral Parkway attracts more than hundred thousand visitors. Approximately 300 craftspeople and artists attending the festival make it the biggest art festival in Southwest Florida.

•    Education – Three Schools operated by Lee County school District are operating and the newest school is Island Coast High School providing quality education to children making it ideal to buy Cape Coral foreclosures.

•    People – Some renowned people are residents of Cape Coral like actress Angela Watson, NFL Player Greg Spires and talk radio host Bill Cunningham.

Some Useful Tips to buy

•    Be ready with your finances- you must secure your finances early so you are ready to purchase the property. Being pre-qualified puts you in more bargaining power when you are negotiating a foreclosed property.

•    Follow the process: you must become aware of the Foreclosures buying process. Be aware that you can buy foreclosed property at an auction, from the seller directly, or by collaborating with a real estate firm.

•     Choose the property; Search for what you want. To find Cape Coral Foreclosures, delve into website listings and choose by locality, size, price, number of rooms etc.

•    Conduct research on the locality: After you put together a list of potential properties in Cape Coral Foreclosures, the next task is to research the neighborhood. You may consider positive facts like public and private schools, population of the area, rate of growth of property value in the area and even recreational and career opportunities.

•    Inspect the Property: Once you have decided on potential purchases, get an appointment to inspect the property. You must personally check the house and ascertain conditions like plumbing, rodents, termites, heating etc.