If you're shopping for a new home in Central Florida, you've no doubt realized that many of the properties out there are "distressed", meaning they're either in foreclosure or being listed as a "short sale". These properties can offer great value, but there are some things that are specific to buying them. Here are some things you should know.
When a property is in foreclosure, the bank will take multiple offers on the property. This means that you may be in competition for the property. It also means that you may not hear back from the bank right away once you've made an offer. In some cases, the bank will have an "offer period" at the end of which they'll respond to all offers. This can be frustrating for potential buyers, since you may…
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