Sarasota Foreclosures & Short Sales

Take a look below to view foreclosures in Sarasota, Bradenton, Siesta Key, Longboat Key, Casey Key, Bird Key, Lido Key, Lakewood Ranch, Osprey and Nokomis. This page is updated daily with new opportunities on the MLS. To get up to the minute foreclosure or short sale listings sent to you via email, just click this link: Distressed Home Finder.

 

Foreclosures for Sale in Sarasota & Manatee Counties

All Listings	$100,000 - $200,000	$200,000 - $300,000
$300,000 - $400,000	$400,000 - $500,000	$700,000 - $800,000

Market Statistics

Total Listings: 4

Average Price: $461,225

Highest Price: $749,900

Lowest Price: $200,000

 

All Foreclosures & Short Sales	Foreclosures & Short Sales Listed Within the Last 7 Days
Longboat Key Foreclosures	New Longboat Key Foreclosures
Casey Key Foreclosures	New Siesta Key Foreclosures
Bird Key Foreclosures	New Lido Key/Bird Key/Downtown Foreclosures
Lakewood Ranch Foreclosures	New Lakewood Ranch Foreclosures
Siesta Key Foreclosures
Lido Key Foreclosures
Downtown Sarasota Foreclosures

 

Sarasota Foreclosures & Short Sale

The properties above are either short sales or foreclosures. It is much easier to purchase a foreclosure than a short sale. Typically, you can get a response back from the bank rather quickly whereas a short sale could take months.

A short sale occurs when the proceeds of a home or condo sale are insufficient to cover the mortgage or balance owned on the property. In a short sale, the bank agrees to take less than what is owed to them due to an economic or financial hardship on the part of the borrower.

In a short sale the bank does not have title to the property. The homeowner still has title and must approve a purchase agreement. The seller then takes the agreed upon real estate contract and submits it the bank for approval. This negotiation can take a long time to accomplish. In many cases it takes months to process a short sale. Be prepared to spend a lot of time and energy in a short sale. If you need to move into a home quickly you should ignore short sales.

The foreclosure process is typically a bank or other secured creditor selling or repossessing a property after the owner has failed to comply with an agreement between the lender and borrower called a mortgage. In short, they stopped paying on the promissory note and the bank takes back the property. When the foreclosure proceeding is complete, the lender can dispose of the property and keep the proceeds to pay off the mortgage and any legal costs.

Buying a foreclosure, also known as REO or bank owned property, is easier than a short sale. Typically, you can get a response to an offer rather quickly. If you have a time line for purchasing it is best to look at bank owned properties instead of short sales.

 

 

Communities

Sarasota	Bradenton
Anna Maria Island	Longboat Key
Siesta Key	Lido Key
St. Armands Circle	Bird Key
Casey Key	Downtown Sarasota
Lakewood Ranch	West of Trail
Palmer Ranch	St. Petersburg

 

Lifestyles

Suburbs	Condo Living
Luxury Properties	Gated Communities
Beach Condos	Downtown Living
Waterfront	Golf & Tennis
Barrier Islands	Master Planned Communities
55+ Communities	Acreage