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Foreclosures: An Overview of the Wisconsin Process
Foreclosures: An Overview of the Wisconsin Process I've been getting a lot of inquiries regarding available foreclosures in Madison, WI right now from folks looking to get a deal or make an investment. Inspired by that, I decided to write a post on how the foreclosure process in Wisconsin happens! Now, before we get started, there are a few things that I want EVERYONE to know: The "Foreclosures" on websites such as Google Real Estate, Trulia, and Zillow do not necessarily provide accurate information. Those sites draw their information from public Notices (see Act II), which does not necessarily mean that the homes are available for purchase as foreclosures, or that they will ever be available as such - or the information is outdated and the bank sold the home months ago. You get what you pay for. Many foreclosures need A LOT of work because they haven't been inhabited for at least six months, and if someone can't pay their mortgage, then they most often can pay for say, a new roof. Stripping homes of valuables such as kitchen appliances and flooring and selling them on craigslist is also not uncommon. If a foreclosure is in decent shape, it will ... more
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