buying foreclosures: Buying Foreclosures in the Pittsburgh Area - Part 3 - 03/23/08 01:00 PM
Buying Foreclosures in the Pittsburgh Area
PART 3 OF 3 - FORECLOSURE PRICING
In this final part of the series on buying foreclosures, I'd like to discuss the topic of how foreclosures are priced. Some people are under the impression that you can buy a foreclosure for pennies on the dollar. This is very rarely the case and usually leads to wasted time and effort and disappointment for buyers.
Lenders will price a foreclosure based on a number of factors. These include the money owed on the mortgage and any other outstanding liens such as mechanic's liens or unpaid property taxes. The lender has … (1 comments)
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buying foreclosures: Buying Foreclosures in the Pittsburgh Area - Part 2 - 03/20/08 08:59 PM
Buying Foreclosures in the Pittsburgh Area
PART 2 OF 3 - BUYER'S COSTS
This is part 2 of a 3-part series dealing with issues to be aware of when considering the purchase of a foreclosed property. This article will address the topic of buyer's costs.
In a foreclosure situation, some of the costs that are normally paid by the seller are passed on to the buyer. These costs may include:
Full amount of Transfer TaxDye testOccupancy permit inspectionsTurning on utilities in homes that have been winterized (if applicable)De-winterization and re-winterization of the property (if applicable)
The seller will normally supply the buyer with addendums to the … (1 comments)
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buying foreclosures: BUYING FORECLOSURES IN THE PITTSBURGH AREA - Part 1 - 03/16/08 08:51 PM
Buying Foreclosures in the Pittsburgh Area
Part 1 of 3
Purchasing a foreclosed property has become an attractive alternative to buyers now that money is tight and the number of foreclosures has increased. Seasoned investors know how the process works; people who are new to this and purchasing a home as their primary residence - especially for the first time - or buyers who are considering getting into investing, may not be quite as savvy.
The purpose of this series of articles is to help buyers make an informed decision as to whether or not a foreclosure is the right choice for them. … (1 comments)
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