How can I find a foreclosure home? Who should I contact? Can I make money after buying this house? Can I get a grant for repairing the house?
2006-09-04 08:24:24 · 6 answers · asked by ahmedragab 2 in Business & Finance ➔ Renting & Real Estate
Go to a realtor and tell them you want a distressed property. If they won't help you, look for one that does, they are out there.
2006-09-04 09:07:24 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You still need to be able to qualify for a loan. Buying foreclosures are usually more costly than buying one on the market because you may have to pay al the arrearages and past taxes due to take it over. I'm not aware of any grant money for fixer uppers, but if you get the house under the appraised value you can get a Home Equity Line of credit to do the repairs. Another way is to rent the house at a discount to a person who will do the work for you .
2006-09-04 16:34:25 · answer #2 · answered by Debbie P 2 · 0⤊ 0⤋
When you are inking about buying a fixer upper and turning it around to make money, you better remember the old addage, "it takes money to make money". If you don't have say money for this venuture, and I'm assuming that you don't if $3000 is all you can spare to put down on a house, then I would recommend some other type of investment, like high yield certificates of deposit.
2006-09-04 15:30:04 · answer #3 · answered by WC 7 · 0⤊ 0⤋
$ 3,000 and a mortgage will get you a house. Contact one of your local realtors.
Banks to do give foreclosed homes away. They are trying to recover as much of their loss as possible.
2006-09-04 15:31:54 · answer #4 · answered by williegod 6 · 0⤊ 0⤋
Check with a real estate agency or the bank.
2006-09-04 15:26:29 · answer #5 · answered by luckistrike 6 · 0⤊ 0⤋
in Mexico or Egypt
2006-09-04 15:30:15 · answer #6 · answered by Anonymous · 0⤊ 0⤋