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Each month AR runs numerous contests as a way for our members to engage in activities
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These state pages or hyper-local pages provide content directly related to a specific geographical location.
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5 Tips For Buying a Foreclosure 5 of 5 - 08/21/09 01:10 PM
5. Don't Assume that you will gain a large profit from a quick sale. Those who buy and are determined to do an insignificant amount of work to a home, while hoping to hustle the home into another's hands for a quick profit may be disappointed. Also cities are enforcing fees and penalties on negligent property owners theses penalties will add up in the long run a neglected home leads to a decreased value. So if you are an investor don't be discouraged, just be prepared to work on your investment and in turn it will yield a higher profit
5 Tips for Buying a Foreclosure 4 of 5 - 08/21/09 12:43 PM
4. Think about a HUD Home. A HUD home is a home that was taken by the Department of Housing and Urban Development because the previous owners had mortgages that were insured by the government. They currently have about 39,000 homes in their possession. After a foreclosure it takes them about six months to get the home back on the market, Local Governments get the first chance to buy. After that buyers who promise to actually live in the home get their chance. If the home is still on the market after 10 days the bidding is then extended to investors. According (0 comments)
5 Tips for Buying a Foreclosed Home 3 of 5 - 08/20/09 12:27 PM
3. Find Out How Long the Home has Been Unoccupied and Weather it Was it Winterized? Ususally the longer a home has been empty the more problems it will have accumulated. One of the bigger problems that makes lots of little problems is the plumbing seals drying out. This can cause fumes and bugs to to back up into the home. Make sure you know if the home was winterized. And Do Not turn on the water until you are certain that there are no cracks in the pipes, this could cause major water or mold damage throughout the home. So make sure (0 comments)
Tips/Homework For Buying a Foreclosed Home 2 of 5 - 08/19/09 02:04 PM
2. Make Sure that you see the home in Person and Check out the neighborhood. Often times investors from different states buy homes for financial purposes if that's you, it is really important to look at the home or have someone inspect it for you. Sometimes things that look like small problems in photos turn out to be much more of an issue than you originally thought and may end up costing you the big bucks. Also research the neighborhood, if you are trying to fix up a home and resell it you may not be able to get the money you put into the (0 comments)
Tips/Homework For Buying a Foreclosed Home 1 of 5 - 08/19/09 01:47 PM
1. Plan Your Finances Carefully. Don't let the temptation of a Small Price Tag seduce you. Make sure to ask these simple questions about the home and your budget, before signing any agreements. Often times foreclosed homes are not in the best of shape, and you should ask yourself: Q: Will this Home Need large Scale Repairs? Q: And Do You Have The Budget to Take Care of these Repairs? Q: Will this Home Need a Few Small Repairs? Q: Are you 100% Positive that these Small Repairs Won't Add Up to a High Price Tag? If your plan is to fix (2 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.