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What to Know Before Buying a Maplewood, MN Foreclosure
If you’re considering purchasing a foreclosure in Maplewood, MN, you should be prepared for the fact that the process will be very little like a standard home purchase. Even if you’ve purchased a house in the past, this article lists some differences that are helpful to know about buying a foreclosure.
First off, foreclosures have gotten a bad reputation as being the unkempt, run-down homes in the neighborhood. And this reputation is not entirely undeserved – many foreclosures are in less than ideal condition due to their owners leaving them and proper maintenance not being done. However, a large percentage of foreclosures are also nice homes with lovely fixtures and amenities. Foreclosed homes come in all shapes, sizes and conditions!
Foreclosed homes are generally sold “as is” by banks. You don’t go in with the same kind of negotiating power that you have with a traditional seller. As well, the bank didn’t live in the home, and isn’t required to disclose the same kinds of things to you that someone who lived there would need to (repairs needed or previously made, neighborhood issues, etc.)
Banks will strongly protect themselves in the sale of forclosures, and will require you to sign away ... more

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