Foreclosure Help
How can I make buying a house in foreclosure safer? How can I learn the condition of the house, value of the area, etc? There must be some great strategy if so many people do it.
How can I make buying a house in foreclosure safer? How can I learn the condition of the house, value of the area, etc? There must be some great strategy if so many people do it.
What do you feel is so unsafe? Start there, let me know. I can help some!
it depends where in the process you are. After foreclosure the house may be vacant. It is public record that it foreclosed try to talk to owners to see it. Also do a drive by. Talk to bank.
OK, so its possible to see the house by going through the owners or the bank. Now, is it a good idea to move into a deal with only 10k? Assuming I can get a 100% mortgage.
Sometimes houses at the auctions get bid up close to retail value.
You have to do your homework BEFORE you go into the auction. In most cases, you will not be able to see the inside of the house before you bid. You can drive by and do a visual inspection of the outside.
Buying a house at the auction is risky though. You have to assume that you are going to walk into the house and everything is going to be wrong with it. You can tell a good deal from the outside though (most of the time).
First off, thank you all for answering my call for help. Secondly, is it even possible to buy a foreclosure before bidding? What are successful ways to get into preforeclosures?
To answer your most recent question: Put in a couple of hours per day for a month or two scouring this site.
You should learn enough to proceed.
[addsig]
Yes. You can work with the owner of the property and purchase the property BEFORE the foreclosure auction. Like it was mentioned...you will find tons of info on this site. Look for "pre-foreclosure"