2006-11-07 22:07:05 · 2 answers · asked by Lisa Holler 2 in Business & Finance ➔ Renting & Real Estate
It usually takes 6 months to a year before they finally get around to putting the house on the market. They do inspections, repairs, etc. Usually not too many repairs though. Be aware that it leaves the house open to vandalism, frozen, broken plumbing or water damage which they take no responsibility for. You will buy it in the condition they leave it in.
Contact the lender to see what they are going to do with the property. Most lenders offer them to investors first and they never make it on the market...Good Luck
2006-11-07 23:01:38 · answer #1 · answered by Barbara 5 · 0⤊ 0⤋
Although the house may not be on the market yet, they will still be up for offers and bites. Look into which house it is, go visit the property yourself. There may not be many repairs to be made, in which case they will be looking to get rid of the house sooner.
Also, if you are interested in foreclosures in general, I would check out other sources that are not just backed by HUD.
2006-11-08 01:28:58 · answer #2 · answered by Anonymous · 0⤊ 0⤋