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Welcome to the Fairhomes Land Investor Information website. Please read the information carefully before using this site. By continuing on this site you acknowledge that you have read and agreed to the following: Forward Looking Statements – Statements prepared by Fairhomes Land and made on the Fairhomes Land Investor Information website that are not historical facts are forward looking statements as defined in the Private Securities Litigation Reform Act of 1995. For the purpose of establishing the Seller’s compliance with Federal Interstate Land Sale Full Disclosure Act 15 USC 1701 (“ILSA”) in the sale of lots to buyers, the enquirer confirms that they are a builder, investor or developer licensed to do business in the state of Florida and is engaged in a bona fide land sale business and is purchasing the property for the sole purpose of either constructing a residential home or selling the same in the normal course of its business. The enquirer further represents and warrants to the Seller that the enquirer is in the above referenced business sale of land sales and/or building residential homes and selling the same as an activity of continuity, regularity and permanency. The enquirer is a knowledgeable and sophisticated investor, developer or builder of real estate properties.
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Cheap land can be found in Florida

30th Aug, 2012back

Cheap land can be found in Florida


When people think about purchasing a plot of land in Florida they might not consider it something they could afford. However, there is plenty of cheap land for sale; whether it is to build a holiday home or make a property investment, it is simply a matter of knowing where to look.


Bank foreclosure sales


A bank foreclosure or real estate owned (REO) foreclosure occurs when an owner is no longer able to make payments on their bank mortgage loan. The bank then forecloses on the property so that it can repossess it.


In order to avoid foreclosure, the owner of the property may attempt to sell their property while the bank foreclosure is being processed. In many cases, the owner will be willing to part with their property investment at a very low price in order to prevent their credit score from being damaged. It is therefore a good deal for both parties; the seller is able to keep their good credit score and the investor gets cheap land.


Banks do not like to take on land or real estate, as they deal primarily with money. This is why they are also keen to get rid of foreclosures quickly. An investor can therefore often be looking at negotiating a price of between 30 per cent and 60 per cent below the market value.


Pre-foreclosure sales


Pre-foreclosure property is property facing foreclosure, but which has not as yet been repossessed. Basically, the owner wants to dispose of the land in order to avoid this process completely. Pre-foreclosure property for sale in America has become particularly popular since the housing crisis and an investor can be looking at buying at a big discount.


A piece of land enters into pre-foreclosure once a public notice of default has been filed due to late mortgage payments. The owner then usually has up to 90 days before repossession. An investor interested in this type of sale should hire an agent who specialises in this kind of property. Pre-foreclosure lists can then be obtained from the lender. It is important to research the land thoroughly before proceeding further and get in touch with the owner to discuss the option of a short sale.


Tax Deed sales


A Tax Deed sale is a great opportunity to buy land for a very low price. The land is being sold because it is been repossessed due to the previous owner not keeping up with their tax payments. If the owner is unable to pay, the government is left with no choice but to auction the land off in order for the debt to be paid by someone else.


These sales tend to take the form of a public auction and usually offer great bargains on land and real estate than foreclosure sales. However, they tend to be harder to find, but due to the fact that the amount needs to equal the unpaid debt, the land is generally very cheap, going for much less than its true value.