how to successfully find and buy florida foreclosure homes

WHERE REAL ESTATE IS MOVING WHERE REAL ESTATE IS MOVING™!

How to Successfully Find and Buy Florida Foreclosure Homes

© Auction.com | Confidential & Proprietary | © 2014 Auction.com, LLC CONFIDENTIAL & PROPRIETARY – DO NOT FORWARD OR PUBLISH

Agenda

About Auction.com

Investment Strategies & Market Overview

Things to Know Before Buying

Finding and Buying Process

Florida Hot Spots

Q & A

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Presenters

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Michael Jansta Auction.com

Sr. Vice President

Lloyd McClendon RealAuction

CEO

Rick Sharga Auction.com

Executive Vice President


About Auction.com


Auction.com

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No Auction.com Foreclosure Fees

Free Property Information

Nation’s Leading Real Estate Marketplace

Most Properties feature Value-Based Bids*

*Also known as Specified Bids

15,000+ Properties


Bid Win Find

How it Works

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Search for properties and leverage the free homebuyer tools to research.

Save properties you would like to buy as your favorites on My Dashboard.

Bidding takes place either Online or In-person at the Courthouse

Online bidding experience will vary depending on the technology provider managing the county’s sales.

Winning bidders will submit payments and documents to the party conducting the sale.


Investment Strategies & Market Overview


Investment Strategies

Residential real estate investors have 2 primary strategies:

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RENT FLIP

Buying to fix and sell or wholesale immediately.

Buying to repair and rent or maintain current tenant.

A very small % have niche strategies.

OTHER

Vacation Rental OWC Finance

Farm…


US Foreclosure Activity Decreasing Rapidly…

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And Delinquent Loan Backlog is Shrinking

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But Florida Foreclosure Inventory on the Rise

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Foreclosure Auctions, Bank Repossessions Increasing

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Foreclosure Activity High Across the State

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Most Buying Opportunities Below $200,000

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Foreclosure Discounts Offer Significant Savings

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Foreclosure Auctions Offer the Best Discounts

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Things to Know Before Buying


What is a Foreclosure Sale?

A Foreclosure Sale is the final step in the foreclosure process.

The properties for sale at these public events are called foreclosure homes, as they are still going through the foreclosure process and have not yet been foreclosed upon.

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Foreclosure

Foreclosure Sale Short Sale Pre-Conveyance REO

Bank Owned


Postponements and Cancellations

Because these are pre-foreclosure properties, there is a high rate of postponements and cancellations.

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© Auction.com | Confidential & Proprietary © 2014 Auction.com, LLC CONFIDENTIAL & PROPRIETARY – DO NOT FORWARD OR PUBLISH

Why do properties get postponed?

Why do properties get cancelled?

•  Homeowner has reached out to the lender/bank to try and work out a way of keeping the home •  Filing error

•  Declaration of Bankruptcy

•  Homeowner has worked out a way to keep the home

•  Sold by the homeowner as a Short Sale

•  Homeowner may have satisfied the delinquent amount owed to the bank


Bidding

There are two ways of bidding in Florida: in-person or online.

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Auction.com features homes in all 67 counties!

•  Alachua •  Baker •  Bradford •  Brevard •  Calhoun •  Clay •  Collier •  Columbia •  De Soto

•  Dixie •  Flagler •  Franklin •  Gadsden •  Gilchrist •  Glades •  Gulf •  Hamilton •  Hardee

•  Hendry •  Hernando •  Highlands •  Holmes •  Jackson •  Jefferson •  Lafayette •  Lake •  Levy

•  Liberty •  Madison •  Monroe •  Nassau •  Okeechobee •  Osceola •  Putnam •  Saint Johns •  Seminole

•  Sumter •  Suwannee •  Taylor •  Union •  Wakulla •  Washington

Bid In-Person (at the Courthouse)

Bid Online (Real Auction)

Bid Online (Grant Street)

•  Bay •  Broward •  Charlotte •  Citrus •  Duval

•  Escambia •  Hillsborough •  Indian River •  Lee •  Leon

•  Manatee •  Marion •  Martin •  Miami Dade •  Okaloosa

•  Orange •  Pasco •  Pinellas •  Polk •  Santa Rosa

•  Sarasota •  Volusia •  Walton

•  Palm Beach •  St. Lucie


How to Find, Research and Buy (At the Courthouse)

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Start at Auction.com

1: Find: Search for properties by county, city or zip code.

2: Research: Auction.com property pages provide FREE due diligence information: •  Property photos & plat maps •  Title information & property documents •  Links to educational videos & FAQs

3: Confirm Event Details: Find the auction date, time, and location on our Calendar or property details page.

At the Courthouse

4: Bring Funds: 5% of the winning bid is due from the winning bidder, in certified funds such as cashier’s checks, immediately following the foreclosure sale.*

5: Register to Bid: Bidders may be required to register at the courthouse prior to the auction.

6: Bid and Win! Transaction details and deadlines vary by county. If you are the winning bidder, you may need to pay the balance, the same day as the sale.

* Please contact the county or visit the county’s website for more details.


How to Find, Research and Buy (Online)

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Start at Auction.com

1: Find: Search for properties by county, city or zip code.

2: Research: Auction.com property pages provide FREE due diligence information: •  Property photos & plat maps •  Title information & property documents •  Links to educational videos & FAQs

3: Confirm Event Details: Find the auction date and time on our Calendar or property details page.

Navigate to a Florida County Courthouse Website

4: Register on County Website: Online sales are conducted on the county website and managed by a technology provider.

5: Bid/Win: Transaction details and deadlines vary by county. A deposit is required to bid. If you are a winning bidder, you may need to pay the balance the same day as the sale.*

* Please contact the county or visit the county’s website for more details.


Do Your Due Diligence

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Below are 5 Easy Steps to follow before you bid on a property. More due diligence steps at: www.auction.com/BeforeYouBuy

Title Review

Consider the Surrounding Properties

Examine Recent Sales Activity on the Property

Review Price Trends

Look at the Upside Potential

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Easy Steps

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*Seeking legal advice is often part of a thorough due diligence process


Foreclosure Sale Checklist

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•  Seek legal advice regarding questions about property titles, bidders' rights or the overall foreclosure process

•  Know the method of sale (Online or In-person at the Courthouse), date, time and location of the event

•  Read and Understand the County Terms & Conditions

•  In-Person Sales: provide a driver's license, passport or other government- issued I.D. and bring cashier’s checks or cash.*

•  Online Sales: Make sure you are registered with the technology provider managing the county sale

* Bringing cashier’s checks typically allows for faster post-sale processing. Contact county for each county’s specific details.


Finding and Buying Process


Where Real Estate is Moving

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Value-Based Bid Also known as a Specified Bid, a Value-Based Bid is when the lender is expected to submit a bid that is either at, or below, current market value and less than the total amount owed on the property.

Total Debt is when the lender is expected to submit a bid equal to the amount owed. In some cases, the lender is expected to submit a bid equal to the amount owed. BUT, we believe that the amount is less than the current value of the property.


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Why Create an Account? •  Foreclosure Property

Reports

•  Plat Maps

•  Dashboard

•  Save Properties to Favorites

•  Property Alerts

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The Dashboard •  Saved Assets

•  Saved Searches

•  Bid Now (REO properties)

•  View Sale Details

•  Property Alerts

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Real Auction – How to Register and Bid

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Full Training

Real Auc)on Office Hours: Weekdays 8:30 AM to 6:00 PM ET [email protected] (877) 361-7325 (954) 734-7401

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For a full tutorial, sign up for the next training by contacting RealAuction.com

For instructions for the online process for St. Lucie or Palm Beach County, please visit the county webpage for more details.


Courthouse Bidding Reminders

Read and understand the County FAQs before bidding. Each of the following steps may vary for each county:

Cashier’s Check Bring Government

Issued ID

Deposit Requirements Full Payment due

Shortly after the Sale

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What Happens After You Purchase a Property

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Congratulations! You are the winning bidder. Now what?

•  Present appropriate funds directly after being declared the winning bidder

•  Obtain a report of sale or sale receipt

•  You’ll receive the deed as proof of ownership to the property

•  You will be responsible for the post-sale procedures such as clearing liens and the eviction process.


Auction.com/Community

Join Today

•  Get Answers

•  FAQs

•  Help Center

•  Suggest Ideas

•  Feedback

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Auction.com/Blog

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For More on:

•  Research

•  Reports

•  Latest Auction.com News

•  Special Events

•  …and more!


Florida Hot Spots


Florida Housing Markets: Methodology

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Home Prices

Home Sales

Demographics

Job Growth

Affordability

Top Five Florida

Housing Markets


Naples-Marco Island, FL

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Naples Adding Jobs at Fast Pace, Nearing Pre-Downturn Peak

Naples Population Growth Among Fastest in the State

Job Growth Outpacing Broader Florida

Sources: BLS, Census, Auction.com Research


Naples-Marco Island, FL

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Naples Home Sales Trending Up Naples Home Prices Up 15.7% From Last Year, Most Among Florida Metros

Sources: IHS, Auction.com Research


Punta Gorda, FL

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Local Population Growth on Par with State


Punta Gorda Employment Growth Accelerated in 2014

Punta Gorda Has Recouped Nearly All Jobs Lost During Recent Downturn


Punta Gorda, FL

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Punta Gorda Home Sales Back in Normal Range

Punta Gorda Home Prices Have Appreciated Consistently, Up 7.7% Over Past Year



Orlando-Kissimmee-Sanford, FL

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Orlando Job Count Has Exceeded Pre-Recession Peak


Employment Growing At Solid Pace

Orlando Population Growth Outpaces Broader Florida


Orlando-Kissimmee-Sanford, FL

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Orlando Home Sales Choppily Picking Up

Orlando Homes Still Affordable Despite Increase in Prices and Sales



Fort Lauderdale-Pompano Beach-Deerfield Beach, FL

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Fort Lauderdale Job Count Is Fast Approaching its Pre-Recession Peak


Employment Growing At Healthy Pace

Local Population Growth Keeping Pace with Broader Florida


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Fort Lauderdale Home Prices Up 11.4% From Year-Ago Level, Among

Fastest Growth Rate of Florida Metros

Despite Home Price Appreciation, Fort Lauderdale Remains Affordable


Fort Lauderdale-Pompano Beach-Deerfield Beach, FL


Sarasota-Bradenton-North Port, FL

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Sarasota Economy Posting Healthy Job Gains

Local Population Growth Gaining Momentum


Sarasota Employment Growth Faster Than Broader Florida


Sarasota-Bradenton-North Port, FL

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Sarasota Home Prices Up 7.2% from Year-Ago Level

Sarasota Boasts Favorable Affordability, Close to National Level



Q&A Session


Questions?

Call Us (800) 793-6107

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Rick Sharga Mike Jansta @RickSharga @MikeJansta

•  Log in to follow, share and participate at www.auction.com/FloridaWebinar


SOS ResiREO 3/12/15

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