If you are looking for distressed properties in Florida, there are multiple ways to do so. Whether you are looking for distressed commercial real estate properties or bank-owned CRE properties, you can find listings on Multiple Listing Service (MLS), bank websites, and online specialist websites that offer lists of distressed properties in Florida for free.
What is a distressed property?
A distressed property is either financially or physically uncontained by the current owner. In most cases, these are commercial properties in which the owner wasn’t able to keep up with mortgage / bank payments and as a result is at risk of falling into foreclosure. Some of these properties are in poor condition due to neglect, but that’s not always the case.
8 Places Where You Can Find Distressed Properties in Florida
1) Foreclosure.com
On this website, you can easily select the county in Florida where you want to search for a commercial property. You can browse distressed properties by county or city, and you can also set up free alerts to get the latest listings straight to your email.
Foreclosure.com updates its database at least twice every day, which means that you can get access to the freshest distressed properties on the market. All listings include the exact location, property type, asking price, available photos and more.
2) Loopnet.com
On Loopnet.com, you can easily search for distressed properties in Florida by navigating on a map so you can focus on the exact location you’re interested in. This website has some of the best options when it comes to filters, and you can select the property type and subtype, investment and sale type, the date the property was listed, cap rate, year built and more.
Loopnet.com adds hundreds of listings every day and offers lots of leads for commercial distressed properties in Florida. The company is part of the Costar Group, one of the global leaders in commercial real estate.
3) RE-MAX
Another giant company when it comes to commercial real estate, RE-MAX has dozens of distressed properties in Florida listed at any time. You can easily search through the properties by days on site, type, price and location. Free automated email updates are available, and you can save your favorite listings and searches and receive an alert when a suitable property comes on the market.
4) Realty Bargains
On Realty Bargains you can find a wide selection of Florida distressed properties and commercial foreclosures. The website makes it easy to search for properties by country or city and you can also search on a map to go exactly to the location you need instantly.
The property count section comes in handy because you can see the number of pre-closure properties, bank owned properties and auction properties in Florida at a glance. You can register for a 7-day trial on Realty Bargains and gain access to all the listings. Free email alerts are also available.
5) Reonomy.com
Reonomy is a company that features a property intelligence platform to make it easy to get the insights you need when looking for distressed properties in Florida. You can easily search for commercial properties that are currently in foreclosure and find what you need quickly by applying filters such as “Auction Date” or “Pre-foreclosure Category.”
You can also study the debt and sales attached to each asset and use multiple layers of additional filters around asset type, value, size, location, and tenant structure.
6) Preforeclosure.com
This is another listings site that mostly features residential properties, but also has opportunities for investors, especially when it comes to multifamily listings. You can easily search properties in Florida by city, zip code, or listing ID and explore foreclosure and auction information with just a couple of clicks.
7) Individual Banking Sites
Individual lenders and banks often have their own distressed property listings on their websites. Some examples include Chase, Ameris Bank, Wells Fargo and PNC. Some banks have only residential listings, whereas others also have listings pages dedicated to commercial properties.
By searching for distressed properties in Florida directly on the website of a bank, you can deal directly with the lenders who own the properties.
Finding distressed properties in Florida doesn’t have to be difficult. There are multiple websites that make it easy to find such properties and sign up for alerts, so it shouldn’t take long for investors to find the right property. If you’re eyeing distressed real estate in Florida, check out the resources above to get started.
8) Distressed Commercial Property for Sale by Owner
You can also find distressed commercial properties for sale by owner on several websites online, such as BuildingsByOwner.com. Buying property directly from an owner has its advantages and disadvantages; however, it is good to make an ample search, so you can compare prices and get a full spectrum of the property market.
More Information Regarding Distressed Properties in Florida
MMG put together a list of 4 Tips to Consider If You Own a Distressed Property in Florida. These are tips for you to make the best possible decision regarding managing a distressed property.
Contact us directly for any further inquiries regarding distressed properties in Florida. Our commercial real estate experts will point you in the right direction, as they have years of experience in the business, especially in the region.
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