Is it possible to do a contract deed purchase on a property that is in foreclosure in Florida?

Northeast of Los Angeles.My investment career wasn’t looking so hot.However, rattled as I was, I was an avid fan/reader of Warren Buffett (still am as a matter of fact).I was confident that times of panic were the best times to look for golden opportunities.Ok, I was fairly confident.If I would’ve been REALLY confident, I would have bought up everything I could get my hands on.Instead, I stayed the course and stood by my plan.I kept contributing to my IRA and 401k, and began looking for another property to purchase with the intent of living in it while stationed in the area and renting it out when I moved.Now, looking back, I realize that I made another rookie mistake.When searching for the property, I did not educate myself and become an expert in my new market.Granted, it’s a little more difficult for military members to accomplish this as we only get about 8 – 10 days to find a place to live.However, I could have started the process from Ohio.Anyways, for those that know the area, I found a foreclosure in a great neighborhood west of highway-14 in Lancaster, CA about 40 minutes for base.The previous owners had purchased the property at the peak of the market for ~$450k.It was now being listed at $195k.If I were in their shoes, I think I would have taken the hit too and walked.Well, probably not due to my security clearance, but I digress.

just so i get a clear understanding. even if someone picks up and starts paying the mortgage the foreclosure process would still be active because of whats owed, correct?

We never received paperwork from the Hoa until the foreclosure filing.   

You can always emphasize how long and costly the foreclosure process will be for them.

It was a HomePath foreclosure, and I got a very good deal on it.

Expired listings from Realtors.You may need to dig in your county records and find absentee owners that way.Public records will have pre-foreclosure records.Hope this helps.

@Joshua Feit The timing from foreclosure to marketing on HUDHomeStore depends on the property and the foreclosing lender often.

NY carries the longest foreclosure time line in the union and around 3 years.

I still haven't closed on any properties yet, but at least I do have my LLC in place for when I act.I still feel that I need more education in regards to controlling properties without using my own cash, but I'm going to at try to purchase some auctioned REOs or foreclosures and getting my feet wet that way.