Monday, August 16, 2010

A foreclosures the way to buy homes now?

With my credit and pre-qualification I could easily do this option. Any advice with this option to buy a home???? A foreclosures the way to buy homes now?
You really need to work with #1 a Realtor that knows how to deal with lenders on foreclosures. #2 have your realtor run the market Information on the neighborhood. What you want to know is if the neighborhood is still declining in value. Buying in a down market can be good, but you don't want the investment your just purchased to be worth less after closing. #3 always have a full house inspection, no matter if it's foreclosed or for sale by owner. And buy title insurance! With these foreclosures, title work is a nightmare, protect yourself from issues later on. A foreclosures the way to buy homes now?
it just depends. sometimes you will find a house that needs to be cleaned and a little worked on. but other times you will find a house that is still in very good condition. it just depends on if you are willing to put time and energy into the hosue becuase alot of foreclosed homes i have seen are not very taken care of.
im not going to attempt to pretend to know what a foreclosure is but as i understand it, its a buyers market due to drops in property value due to people thinking there are drops in property value which causes people to sell at much lower prices so... ...yeah
This is the best way to purchase the home that you want, but be careful and never pay the full asking price.

No comments:

Post a Comment