I've worked with many buyers interested in purchasing a property that has been foreclosed on. When someone expresses interest in a foreclosed home I always share this statement:
"Why not, but please be careful". . .
In other words, learn everything you can before purchasing a foreclosed home. . .
I came across a writing a short time back that is worth reading when it comes to buying a property that is a Foreclosure. This advice could save you money and other potentially huge mistakes. I urge you, if you are thinking about making this kind of purchase, invest five minutes of your time in reading this.
Tips On Buying Foreclosed Properties
Remember this about purchasing your next property: Knowledge is power in Real estate. On the other hand, Zeal without knowledge can be and often is very dangerous.
The above simply brings together some thoughts about purchasing a foreclosure.
Keller Williams Realty Coeur d'Alene - Post Falls, ID
REALTOR Post Falls ID
Foreclosures are always interesting and I always show regular resale properties to people that are set on buying a foreclosure so they can compare as many folks are not able to come up with the needed money for repairs on a foreclosure. Thanks for the information.
Jul 10, 2012 03:32 AM
Retired - Gaithersburg, MD
Thanks for sharing the link. Many of our clients have found great success with the purchase of foreclosures.
Have an outstanding week with your camera in hand.
Jul 10, 2012 04:52 AM
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life
Buying a foreclosure is not for everyone. It's OK for the seasoned investor or a buyer working with a really seasoned Realtor that knows what they are doing.
Jul 11, 2012 02:15 AM
Rainer
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David Burrows
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This blog is written for Buyers and Sellers about the subject of Real Estate. The information is presented in a simple and informative format so that whenever readers have a Real Estate transaction, they will feel more adequately prepared.
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