bank owned: Foreclosure Purchase - 11/07/08 02:12 PM
Many buyers request information about Foreclosures but the fact is that most of the Short Sale and Foreclosure properties were purchased during the "real estate boom" which means their posted Asking Price may be higher than today's market / appraisal value.   Also there have been numerous cases of home equity loans or second mortgages that were unknown to the primary mortgage lender so the deed could not transfer to a new buyer.
A buyer who has done their homework knows they need their own agent to help find out as many details as possible about any Short Sale, Bank Owned, or Foreclosure.  There … (0 comments)