Buy the Best

Jul
10th
Jul

5 tips for buying a foreclosed home





5 tips for buying a foreclosed home

foreclosure-876.jpg

 (AP)

For those looking to score a deal on a home, foreclosed properties can offer a great opportunity. Lenders are looking to unload the property and will often offer up a deep discount to do so quickly. But the process of buying a foreclosed home can differ a little from traditional home sales. Here are some things to consider before you make an offer on one of these properties.

The “As-Is” Sale

ADVERTISEMENT

4 Ways to Buy a Home With No Money Down - wikiHow

Method 4 of 4: Buying a Foreclosure Home. Buy a Home With No Money Down
Step 10.jpg. 1. Research ...
http://www.wikihow.com/Buy-a-Home-With-No-Money-Down

ADVERTISEMENT

Disgruntled homeowners in foreclosure can feel like they have nothing left to lose. Faced with the prospect of losing their house, homeowners sometimes leave the place stripped of anything valuable or useful, including door knobs, fixtures and wiring. In cases like this, the lender is unlikely to make repairs and will sell the home as-is. While you can get the place at a steep discount, it might only be a bargain if you’ve got some DIY skills. This shouldn’t necessarily discourage you from buying, but you’ll need to figure out if the cost of repairs will offset the discounted offer price.

# 7D Yes! You Can Buy Foreclosed Homes For No Money Down

8 May 2012 ... The loan officer and lender you choose are the key to purchasing foreclosed
homes for no money down. Its important to find an ethical ...
http://www.your-road-home.com/4a-yes-you-can-buy-foreclosed-homes-for-no-money-down/

Not Knowing What You’re Getting Into

With most homes, you’ll likely get some disclosure from the current owners. A helpful homeowner might give you a little advice, like the best place to start a garden, or offer you a heads up on minor repairs, like a bathroom door that sticks.  And when it comes to big repairs, such as a shoddy foundation or termite damage, the owners might be legally required to let you know before you buy the place. But a lender has no history with the home, so don’t expect to get a run-down of problems before you move in. A foreclosure might be a good deal, but it can also turn into an unexpected adventure. 

Don’t Assume They’ll Take Any Offer

Yes! You Can Buy Foreclosed Homes For No Money Down

You Can Buy Foreclosed Homes For No Money Down. by Stephen Webber on
April 18, 2013. Jump To Comments. By Stephen Webber 33 Years of Real Estate
http://www.your-road-home.com/yes-you-can-buy-foreclosed-homes-for-no-money-down/

While a foreclosed home can often be a bargain, you shouldn’t expect the lender to accept a lowball offer. Even in a market flooded with foreclosures, a bank might balk at a low offer, preferring to wait until housing prices bounce back rather than take a huge hit on the investment. However, you can use local foreclosures to your advantage. Take a look at recent sale prices for homes sold by lenders — which are often called real-estate owned, or REO sales — to help you price the place.

How to Buy Foreclosed Homes With No Money Down & No Credit ...

How to Buy Foreclosed Homes With No Money Down & No Credit. Foreclosure
properties can be a potential goldmine, even for a novice real estate investor.
http://www.ehow.com/how_5370392_buy-homes-money-down-credit.html

It Takes More Time

Most mortgages are backed by big banks and financial institutions, which means you will likely run smack into a large, slow-moving bureaucracy when trying to buy a home in foreclosure. With a traditional home sale, you can expect to find out if your offer has been accepted within a day or two. But when buying from a financial institution this process can take weeks. So have patience and don’t freak out if you don’t immediately hear back from the seller.

A Different Kind of Sale

Banks have their own processes and procedures for selling a home in foreclosure, which can make the purchasing process feel a bit foreign for experienced buyers. Banks work with real estate agents to show and sell the home, and often these agents can be dealing with dozens or foreclosures at a time, leaving them little time to tend to you. You shouldn’t expect the same careful attention when dealing with a foreclosure, but that’s the price of getting a good deal. The bank might also have its own contract that protects it should the home turn into a money-pit. To make sure you don’t end up feeling shortchanged, hire a good building inspector and insist on tagging along so that you can find out as much as possible about the home. 

5 tips for buying a foreclosed home | Fox News

19 Jun 2014 ... But the process of buying a foreclosed home can differ a little from ... But a lender
has no history with the home, so don't expect to get a run-down of ... have its own
contract that protects it should the home turn into a money-pit.
http://www.foxnews.com/leisure/2014/06/19/5-tips-for-buying-foreclosed-home/







http://www.foxnews.com

May
22nd
May

Se in Massachusetts

Massachusetts has a national reputation as a bastion of gun control, but crimes and injuries related to firearms have risen — sometimes dramatically — since the state passed a comprehensive package of gun laws in 1998.
Oct
26th
Oct

Timeshare Prices Plummet to $1

By AnnaMaria Andriotis Unable to sell his parents’ ocean-front timeshare for the past year, David Suder became so fed up he offered to give it away.
May
17th
May

Buy NPTEL DVDs

Buy NPTEL DVDs NPTEL material is available for FREE on NPTEL Website( http://www.nptel.iitm.ac.in ). If you are not able to download lectures due to bandwidth constraints, you can obtain the courses in DVDs by paying a nominal fee (to cover the cost of storage media and distribution).