Natiivo Gale Miami Hotel & Residences Unit #1920
Asking price
$349,000
Miami foreclosure condos
E11EVEN Hotel & Residences Unit #3403B
Asking price
$449,000
$150,000 (25% price drop)
The Elser Hotel and Residences Unit #4412
Asking price
$517,000
The Venetia Unit #20E
Asking price
$270,000
$34,000 (11.2% price drop)
Met 1 Unit #T-2911
Asking price
$360,000
$15,000 (4% price drop)
Natiivo Gale Miami Hotel & Residences Unit #3212
Asking price
$450,000
District 225 Unit #1102
Asking price
$529,000
$21,000 (3.8% price drop)
Natiivo Gale Miami Hotel & Residences Unit #2513
Asking price
$650,000
The Elser Hotel and Residences Unit #1915
Asking price
$660,000
900 Biscayne Unit #3704
Asking price
$735,000
$14,000 (1.9% price drop)
Vizcayne Everglades On The Bay Unit #808
Asking price
$395,000
Vizcayne Everglades On The Bay Unit #2410
Asking price
$495,000
YotelPad Miami Unit #2506
Asking price
$539,000
$38,000 (6.6% price drop)
Paramount Miami WorldCenter Unit #1808
Asking price
$850,000
$49,000 (5.5% price drop)
Casa Bella Unit #1802
Asking price
$1,550,000
Aston Martin Residences Unit #2609W
Asking price
$2,565,000
Paramount Miami WorldCenter Unit #811
Asking price
$1,350,000
900 Biscayne Unit #PH6109
Asking price
$2,087,000
0.3% price increase
Aston Martin Residences Unit #4707
Asking price
$3,950,000
Paramount Miami WorldCenter Unit #4811
Asking price
$4,700,000
$200,000 (4.1% price drop)
Frequently asked questions about Miami foreclosure condos
Clear answers about bank-owned properties, the Florida purchase process, and what to watch for before making an offer.
What is a Miami foreclosure condo?
Foreclosure is the process in which a lender repossesses a property after mortgage default. When the condo returns to market as REO (Real Estate Owned), the bank or loan servicer sells the unit as a standard MLS listing, often at a price below comparable units in the same building.
Is foreclosure the same as a short sale?
No. In a short sale, the owner is still the seller and the bank must approve a price below the mortgage balance. In foreclosure, the property has already been repossessed and the sale is handled by the bank or its agent. Rules, timelines, and paperwork differ. See our Miami short sale listings to compare.
Can foreign buyers purchase a foreclosure condo in Miami?
Yes. U.S. residency is not required to buy foreclosure property in Florida. Buyers need valid identification, proof of funds or a mortgage pre-approval letter, and a licensed agent who understands the bank’s REO process.
Do I need to pay cash to buy a foreclosure condo?
Not always. Some banks require cash or a short closing window; others accept conventional financing when the unit is habitable and the buyer qualifies. Each listing includes its own sale addendum, so review the terms before submitting an offer.
What are the main risks when buying foreclosure property?
Key points to watch include:
- Property sold as-is
- Possible occupancy or delayed move-out
- Slower responses from the bank seller
- Competition from multiple buyers
- Outstanding HOA dues or special assessments
- Building rental restrictions
A professional inspection and a review of condo rules remain essential.
Can I tour the condo before making an offer?
On most REO listings in Miami, yes — by appointment with the listing agent. In some cases access is limited or the unit is occupied; buyers should weigh that risk carefully before offering.
How long does it take to close on a foreclosure purchase?
It varies widely. Straightforward deals may close in 30 to 45 days after acceptance; cases with multiple counteroffers, internal bank review, or document delays can take weeks or months longer.
How does an offer work on an REO property?
Buyers typically submit an MLS offer with the bank’s required addendum, proof of funds or pre-approval, a closing date, and an escrow deposit when required. The bank may accept, reject, or counter. An experienced agent helps format the offer correctly and track each step.
Is every foreclosure listing a good investment?
Not necessarily. A below-market price can make sense only after you factor in physical condition, HOA fees, rental rules, closing time, and renovation costs. The headline discount does not always translate into real savings.
Does MiamiCondoSolution.com help buyers with foreclosure purchases?
Yes. Our licensed agents in Miami guide buyers through search, showings, offers, inspections, escrow, and closing. Contact us to review active listings and build the right strategy for your purchase.
