Orlando Home Tours

With property in many parts of the US fetching bargain prices, real estate agents are organising bus tours to take potential investors to view foreclosed properties.

In California, Nevada and Florida it is now possible to jump on a free tour, visit between seven and ten properties and even get some advice in between stops on how to make the most of your purchase.

'It has really taken off. We are getting local investors seeking properties to rent out and an increasing number of foreign investors especially from the UK who are taking advantage of the weak Dollar,' said Orlando agent David Torres who has launched Orlando Homes Tour.

It features homes that American banks have repossessed and are eager to sell in order to recover their loan. In addition to a pitch from agents, potential buyers will hear from home inspectors and lenders. It only visits empty property to avoid embarassment to owners. There is a similar tour in Miami.

Among those who have tried them out is Geoff Lamont, a London truck driver on holiday in Florida who dreams about moving to the sunshine state.

'I thought it would be nice to have a look at some American houses all at once, see how the market works,' he said. 'I've seen some nice, nice properties that are much cheaper than you can get in the UK. You can get a feel for how a place is,' he added.

Janice Ziesig, owner of Z House Realty Group in Orlando, offers the luxury version. For $45 per person or $65 per couple her tour includes house visits, house information, teaching sessions, a continental breakfast and lunch.

On the tour is a mortgage broker, a home inspector who points out details such as structural issues, water damage and electrical problems, an attorney who answers questions about title insurance and short sales, and real estate agents with information on square footage, when the home was built and other key information.

'We wanted to do something different. We wanted to teach people. People are interested. It gets people to call,' said Ziesig.

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