Multi-Million Dollar Foreclosures

Foreclosures are hitting everywhere and every tax bracket these days.  You may be surprised to know that in the Tampa Bay area, there are several homes priced over $1 million that have been taken back by foreclosure and are being sold by the banks. 

In the past couple of years, I have seen quite a few multi-million dollar properties which have been foreclosed on.  Some have been builder properties that were never completed, while others have been gorgeous homes that the owners simply let go back to the bank. 

Once a bank receives the properties back, they can choose to either auction the houses, fix them up and sell them or simply list them as-is with no repairs done.  As with any bank owned property, it is up to the buyer to do their due diligence and have the house properly inspected for any repair issues.  Even if there is $50,000 worth of work to be done to complete or repair the house, when your looking at multi-million dollar homes, it may still be a great deal.

Here are a few of the multi-million dollar foreclosure homes for sale in the Tampa Bay area:

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