Foreclosure Properties Single Family Homes Madison Alabama

Foreclosure Properties Single Family Homes Madison Alabama

Foreclosure Properties

If you are still considering buying a foreclosed home your selections have really narrowed in Madison Alabama.  There are not a lot of Foreclosure properties left with a Madison Alabama address, but the following link which is updated daily will display all available single family detached foreclosure properties listed in our Realtor Associations MLS with a Madison Alabama address:  FORECLOSURE HOMES MADISON ALABAMA  

At the writing of this post there are 14 currently available foreclosure homes priced from $344,900 to $69,900 in Madison.  Typically these homes are sold "As-Is" with the bank making no repairs, however, after working with some banks I can tell you there are exceptions...but not always.  Banks do make some concessions, but usually the homes are priced where they should be as a foreclosure property so the negotiation is a little different than buying a non-distressed property from a home owner.  The bank is not emotionally attached to the house and has a bottom line or "net" amount that they work by.  The buyer of a foreclosed home in Alabama should also be aware that the former owners usually have a one year right of redemption on the property beginning on the foreclosure date.  That is; the former owner can redeem the home during a one year period and the new purchaser would have to move, but the foreclosed party has to meet certain requirements, such as paying for lawyers fees, repaying the purchaser plus 12%, insurance, taxes, the value of permanent improvements by the purchaser and many more fees and it's for that reason that most homes go un-redeemed by the foreclosed party.

So if I haven't scared you away from buying a foreclosed home then give me a call or send me an email to discuss your options or to find out more about available homes.

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