Buying a Foreclosure
If you listen to the media at all, you probably have heard the term “shadow inventory” when referring to the housing crisis or bank foreclosures. Shadow inventory is a vague term and is often referred to in billions of dollars. What is the shadow inventory? Investorpedia describes shadow inventory as…. A term that refers to […]
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.
Zillow is a huge marketplace of homes located across the US that are both currently for sale and unlisted. Zillow provides listing information on foreclosed homes in combination with a powerful geographic search engine. A great feature of the site is the “Zestimate” that provides a starting point for valuation on homes listed on the site. Zillow is a great site to search for foreclosures for both home buyers and investors. Read the article for instructions on searching the database.
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.
Foreclosures are prevalent in today’s real estate economy. Despite the negative sentiment surrounding the foreclosure crisis, investors and homebuyers are profiting from the new real estate foreclosure environment. Foreclosures present a great opportunity to purchase property at a discount. Our site endeavors to provide you, the foreclosed home buyer, with information you can use as a tool in your buying process.
Every state has its own foreclosure process. A foreclosure is usually the result of a person’s inability to make timely payments on the mortgage he/she has taken out for a property. Because of a foreclosure, people lose their homes and eventually the bank becomes the owner of their property. Understanding the foreclosure process will allow you the ability to target your purchase strategy for bank owned homes.