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Forclosures: Deal or No Deal?

By Stacey McCarthy

Real Estate Agent with McCarthy Real Estate PA# RS294585

July 29, 2008 03:17 PM

monopoly.jpg monopoly image by weirdsusieq Forclosures... enticing thought for a new homebuyer. Seems like it would be a no-brainer to pursue a home that is bank owned. If it's a forclosure, that means it's a bargain, right?

Maybe, Maybe NOT.

These days, bank forclosures may or may not cost less than the average home on the market. And they come with many pitfalls that leave them on the market for quite some time.

If the home was not purchased at the Philadelphia Sherrif's Sale...

For more, click here to go my home blog.

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The Somers Team

The Somers Team at KW Philadelphia - Philadelphia, PA

Delivering Real Estate Happiness

Good post. We always have buyers who ask "What about foreclosures ? " which typically are the same buyers doing FHA loans or have just enough money for the down payment and closing costs.

Frankly, I get emailed foreclosure lists from time to time and really do not see a lot of good deals their.

Philadelphia Real Estate

Jul 29, 2008 11:16 PM

Stacey McCarthy

McCarthy Real Estate - Philadelphia, PA

@SmartGirlsOwn

Thanks Christopher and Stephanie, I very rarely come across a forclosure that's an actual good deal. Investors can get them, but it happens so seldom.

Jul 30, 2008 02:58 PM