Posted by NewBuyer on January 9, 2010 | No Comments
A helpful list of five tips you should know before buying a foreclosed home. These tips include how to find foreclosed properties, why auctions are risky, how to avoid buying an overpriced foreclosure, why getting pre-approved for the home loan is critical and the importance of a detailed home inspection.
From the resource: “Right now, it’s anyone’s guess when the housing downturn will finally hit bottom. But if you’re looking to buy a home now – and plan to stay in it for a while – there are plenty of bargains to be had on a foreclosed property.”
Source: AOL Money & Finance
Read More About Buying a Foreclosure at Newbuyer.com
Posted by NewBuyer on December 27, 2009 | No Comments
A current, insightful look at how to buy a foreclosed home. Nine tips are detailed. Learn how to budget carefully, view the home and evaluate the neighborhood, inspect the home for vacancy or improper winterization damage, consider the landscaping, contract for a private inspection, consider a HUD home, do not expect to make a quick profit on the home.
From the resource about buying a HUD foreclosure: “HUD houses go to market about six months after foreclosure. Local governments get the first option to buy. After that, buyers who pledge to live in the house have the first opportunity to offer a bid. If the house is still on the market after a period of about 10 days, the listing is opened to investors. Owner occupants end up with about half of HUD’s properties, according to HUD officials.”
Source: CNN.com
Read More About Buying a Foreclosure at Newbuyer.com
Posted by NewBuyer on December 4, 2009 | No Comments
A eye-opening look at the pros and cons of buying a foreclosed home. By asking yourself three questions presented by the resource, you will get a better idea if you, personally should by a foreclosed home. If you decide it is right for you, read on to see “the risks associated with buying a foreclosed home at each stage of the foreclosure process.”
Source: Nolo
Read More About Buying a Foreclosure at Newbuyer.com
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