Foreclosure Buying Tips
Some banks and corporate sellers have caught on! Buyers prefer a home that is ready to live in versus a fixer-upper. In addition, homes that are well maintained, have active utilities and are repaired gain more interest and showings. Some sellers of foreclosures have made it a practice to repair homes prior to selling them […]
Foreclosure sales are different than short sale transactions. A short sale occurs when the mortgage holder is still in control of the property. Short sales can be a good source of default properties. Understand how short sales are different than foreclosure sales.
Foreclosures are abundant in today’s real estate market. Bank owned homes often represent an awesome opportunity to purchase property well below market value. Foreclosure listings are a distressed sale and require special considerations. Buying a foreclosure can be seeded with risk. Taking these simple steps can help eliminate that risk and secure a deal on a foreclosure.
Buying a home is not easy and there are many complexities involved. The housing market consists of both regular and bank owned homes. Understanding the complexities of buying a foreclosed property prior to searching for a home will eliminate much of the potential frustration. Learn more about the differences of foreclosed home purchases in this article.