If you want to buy a Scottsdale AZ real estate bargain it is of the utmost importance to know what you are doing. No matter how inexpensive the property is, real estate is still a big investment and a big responsibility, so do your research, be aware of the downsides, and know the procedure of buying foreclosure real estate.
The term "deal" is all relative. It is easy to hear of people buying property for little to nothing but we all know that nothing that inexpensive comes easy. Buying a Scottsdale foreclosed property at an auction for $1 or $100,000 sounds good but the property may come with additional fees, maintenance and problems that are not mentioned or advertised.
A couple of possible complications that may arise include:
- association fees that may have to be paid by state law (for example in Hawaii up to 36 months in association fees must be paid by the buyer of foreclosed property).
- major issues with the home that are not able to be seen without an inspection (broken pipes, faulty wiring, termites, etc.).
Buying foreclosed property can be a great investment but it can also be similar to throwing money into a sinking ship. The old saying "something too good to be true" should constantly be in your head. Find out what you can about any particular Scottsdale property by talking to a Scottsdale AZ Realtor, such as Gina McKinley, who may have seen it, county records and any other resource you can find. Gina McKinley has the experience with buying and selling distressed property, and working with her could help save you quite a bit of trouble. Contact Gina McKinley today at (480) 355-8645 or by email.
Click here to read about foreclosure auction information from RealtyTrac.com.
Comments(0)