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What to look for when buying a foreclosure in Winchester, VA
While the real estate market continues to show some signs of life, there are still pockets of high volumes of foreclosures and short sales throughout the country.  In the Winchester / Frederick County, VA area the current inventory of REOs has fallen to 44.  That may sound like a lot, but it is below previous numbers.
These REOs (Real Estate Owned,or Bank Owned) properties range in price from $79900-$379900.  They offer bedroom and bath numbers from 1/1 to 5/3.  With interest rates at record lows, it's a great time to hop off the fence and take a second look at one of these foreclosed properties.  When you do, there are some things you will want to look for, such as:
The overall condition of the property.  Are there broken windows, damaged door frames, soiled and smelly carpet or other unwelcome short-comings?  Remember, some defects will not pass FHA / VA loan requirements.  If the property is damaged, you may want to keep looking. Look in unconventional places for signs of problems.  People notoriously paint a room and ignore the closets.  Always look in every closet to see if there are any wet spots on the ceiling.  Look under every vanity for ... more

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