Destin Foreclosures

The number of Destin foreclosure homes, also known as bank owned properties or REO (real estate owned) properties, is rising rapidly, which means that you could have a handle on a bargain that you can make into your next home, an investment rental property or an investment sale property. The Destin foreclosure market is a niche that is seeing more interest. However, the unique nature of foreclosures in Destin FL is such that expert advice is highly recommended.  Read more about Destin foreclosure homes.

Listings for Destin Foreclosures & Bank Owned Properties

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Listings for Destin Foreclosures & Bank Owned Properties - Market Stats

Foreclosures sales data is provided by the Emerald Coast Association of Realtors and reflects 12 months of sales data.

  # Listings Avg. DOM Avg. Price Highest Price Lowest Price Avg. Price/SqFt Highest Price/SqFt Lowest Price/SqFt
Sold (Last Year) 2 331 $868,000 $1,510,000 $226,000 $536 $880 $192

Last Year Sales By Month

Highest Sales by Month

Jul 2021 - 1190 Lionsgate Lane, Gulf Breeze, FL
Sold
1190 Lionsgate Lane, Gulf Breeze
This super cute REO home is nestled in heart of Tiger Point and is a must see. Uniquely designed, this 3 bedroom 2 bath split bedroom design home is 1178 and built in 1993. Great room has vaulted ceilings, fireplace, and new LVP flooring. Dining area is...

Detached Single Family

3 Beds
2 Baths
1,178 SqFt
View Details
Aug 2021 - 8057 Gulf Boulevard, Navarre, FL
Sold
8057 Gulf Boulevard, Navarre
Welcome to your person Beach House! This home boasts 100' of the world's most beautiful beaches just at the tip of your fingers! Nestled in Navarre Beach where you can enjoy sea shelling at the National Seashore, local area dining and live music,...

Detached Single Family

3 Beds
3 Baths
1,716 SqFt
View Details

Buying a Destin Bank Owned Property or REO

A Destin foreclosure can be lower than the standard going rate due to the property being in disrepair, falling home values or the institution owning the home has a plethora of foreclosures and wants to get rid of it. It is possible to buy your first home this way or obtain a rentable property that you can fix up while receiving rent income that goes to the mortgage. Reselling former foreclosure homes or renting them out to screened individuals and families helps maintain a good neighborhood, ensuring that criminal activity is not encouraged to take root in the area.

Purchasing a foreclosure home is not the same as purchasing a regular home. Many foreclosures are in poor condition and you may not have the leisure to inspect it as you would wish. You need to know the legalities involved in purchasing a foreclosure in Destin and the timeframe that you may be looking at. Sometimes foreclosures can take months to come fully into your possession. The wise foreclosure investor checks the title for liens and taxes owed on the property, if any. You should also consider buying only vacant properties, as tenants on the property mean you may have an unpleasant and costly eviction ahead of you.

Destin foreclosure condos and townhomes are quite common and require some special handling to ensure that you're getting a great deal in a good complex or community. Make sure that you get a copy of the CC&Rs (covenants, conditions and restrictions), study the budget and are aware of rules that might affect your enjoyment of ownership. All the normal condo buying rules apply here, but in addition, you will want to make sure that the foreclosure you're looking at is not one of a number of foreclosures in the complex. This can affect your home values and make the property difficult to rent or sell.

Entrusting your Destin foreclosure search to an experienced professional is the best way to navigate the waters of the foreclosure market and find the home you want, for the price you want and with no hidden problems. Contact Tim Shepard for more information about Destin foreclosure real estate