Bank Owned

• 1
  Contact the local bank.gold bank image by John Sfondilias from Fotolia.com
  
  Contact your banking institution of choice in the city or town where you seek property. Ask if it has a list of available properties. Pick up the list of bank-owned homes. Ask your bank if they have properties posted on its website. Ask for the web address to view properties.
  
  
• 2
  Research the property.historic key west florida image by itsallgood from Fotolia.com
  
  Review the properties for sale. Bank-owned properties are sold as is. However the bank may have inspection reports on hand. Contact the bank and ask if it has any inspection or property reports on the property you are interested in. Drive by the property and observe the condition of the house. Research public records on the property of interest. If you purchase the property, you will then be responsible for any liens or past-due taxes on the foreclosed property.
  
  
• 3
  Call your real estate agent.phone image by Eisenhans from Fotolia.com
  
  Contact your real estate agent if you want to view the inside of the property. Set up a time to see the house. If you do not have a real estate agent, call your real estate company of choice and speak with the on-call agent. Select the house you want to make an offer on. Contact your real estate agent and set up a time to write the contract. In Florida some banks will write a new loan for qualified buyers of foreclosed property. Ask your agent to see if the bank will write a new loan or if you need to be pre-approved prior to making an offer. Banks in Florida often accept multiple offers and select the highest and best offer. Make your best offer first.
  
  

Buying Property at Auction

• 1
  Houses in Florida go to auction 30 days after judgment is filed.single family houses by water image by MAXFX from Fotolia.com
  
  Determine the county you want to buy property in. Go to the local county court house and ask where the notice of sales are posted. Review the notice of sale for property. The notice of sale will give the property address, as well as the date and time of sale. A notice of sale must also be announced in the local paper. Check the local newspaper to find properties that will be sold at auction. Auctions on foreclosed properties in Florida usually take place 30 days after judgment is filed against the property.
  
  
• 2
  Look at the property closely.a magnifying glass image by timur1970 from Fotolia.com
  
  Research the property you are interested in. Properties sold at auction are sold as is. If you bid on and win a property at auction then you will incur debts still owed on the property. Search the public property records of the county to determine if any liens exist on the property. Drive by the property and observe the condition of the property. Select the property you want to bid on.
  
  
• 3
  Five percent is due upon winning the bid.percent image by Soja Andrzej from Fotolia.com
  
  Meet with your lender and explain that you want to buy property at auction. Determine the amount of the loan you qualify for. Make arrangements to access the money. Winning a property at auction in Florida requires the buyer to put down 5 percent upon winning the bid and full payment is due by the end of the day. Decide the highest amount you will bid and have enough cash on hand at the auction to pay the 5 percent down if you win.
  
  
• 4
  Attend your auction of choice and bid.for sale sign image by Attila Toro from Fotolia.com
  
  Attend an auction. Bid on the property you have selected. Auctions in Florida take place on the courthouse steps at 11 a.m.