Bonita Springs Foreclosure Deal

Have you been looking for a great Foreclosure Deal? Well this is definitely one of them!

The home's current market value is over $200,000.00. In fact, yesterday it was listed for $214,000 and it was just lowered to $108,854.00! 

Click on the links below for more details and photos:

Cedar Creek Foreclosure

Additional Pictures

There have been 5 sales in this community (per the bonita springs/naples MLS) and the lowest sale was for $245,000.00.

There are 6 pendings properties currently in this community and the lowest is listed at $299,000.00.

This home is in a gated community called Cedar Creek in the heart of Bonita Springs just across highway 41 from Pelican Landing.  

Here are the pro's for this home:

• newer home (built 1995)
• below ground pool
• southern exposure
• tile roof
• nice, well kept community with mature landscaping
• low HOA fees (less than $100/month)
• 20 minutes from airport and beaches
• 3/2 with 2 car garage
• Pretty good condition

Con's:

• needs new flooring
• needs some drywall repair in a few areas (only two rooms and small areas)
• needs some good cleaning and fresh paint

The overall condition of the home would be determined with a home inspection, but even if the a/c and pool pump were bad (they may be fine) the total cost to make this home almost perfect should be less than $20,000.00

This home is listed at 1/2 of the current market value based on recent sales.

Why hasn't this home sold? Well, it just lowered it's price to $108K so it probably will. They are taking bids until 1/19/2010 and are obviously hoping to get more than $108 for the home. BUT, the listing agent is from out of town and it is not listed in the Bonita/Naples MLS....it is listed in the Fort Myers MLS. So most people are probably not even aware it is for sale. Add to that the fact there is not a sign in the yard, it is hard to sell something if no one is aware that it is for sale.

So if you are looking for a great deal, this is it! Someone will steal this property even if it sells for $150K because of bidding it is still a deal. Again, nothing sold under $245K in the past 6 months.

Call or email if you are interested, it may not be available after 1/19/2010.

THIS IS HOME IS BEING SOLD THROUGH A BIDDING PROCESS: Please read below info that I obtained form the bidding company, it is accurate to the best of my knowledge:

• Bidding ends on 1/19/2010
• Min bid is the listed price
• There is a 5% bid fee charged to the buyer at closing (for example, if the winning bid is $125,000 than there is a bid fee due at closing for $6,350.00)
• If you are the winning bid and then decide not to go foward with signing the contract for sale they may charge you a bid fee of $350.00 (or if you retract your bid when the bidding process is still open to new bids)
• The earnest money deposit required is $1000 for the winning bid
• There are no financing contingencies allowed. which means if you have to get a mortgage but get denied you will lose your $1000 deposit.  
• The sale is As Is- there is no back out period or time for inspection
• There is a BUY NOW option available, if you choose this and they accept your price the bidding is done and the property is yours.

This type of process is not for everyone, please call me with any additional questions or concerns you may have.  

Leave a Comment

Blog Navigation

• All Categories
• Short Sales
• Foreclosures
• Foreclosure - Listings
• Foreclosure - Seller information
• Property Taxes
• Tax Credit(s)
• Moving
• Bonita Springs, FL
• Bonita Springs Golf and Country Clubs
• Bundled Golf Communities Bonita Springs FL
• Equity Golf Communities in Bonita Springs
• Public Golf Communities in Bonita Springs
• Estero, FL
• Estero Golf and Country Clubs
• Bundled Golf Communities in Estero FL
• Equity Golf Communities in Estero FL
• GOLF
• Gulf of Mexico
• Gulf Front - Naples
• Gulf Front - Bonita Springs
• Pictures

Archives

• August 2010
• June 2010
• May 2010
• February 2010
• January 2010
• December 2009
• November 2009
• July 2009