2006-11-29 11:41:34 · 6 answers · asked by commonsense 5 in Business & Finance ➔ Renting & Real Estate
yes, there are catches, and you might pay a few extra bucks in closing costs, but a good real estate attorney can make sure you are protected.
Styles of title very from state to state, so it could be significant. Make sure any contract you sign has an "attorney disapproval clause", and also beware that the bank has probably never even seen the house, other than pictures, so they really have no knowledge of what may be wrong with it.
A good Realtor can guide you through this all, and most foreclosures are listed through Realtors anyways.
2006-11-29 11:47:14 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes there can be unseen problems. Like if it is in an LLC/partnership and only one partner signs and then they do a flip on the property without the knowlegde of one of the partners who also holds interest in the property.
Look carefully at what you are getting into before jumping... Good Luck!
2006-11-29 12:07:48 · answer #2 · answered by words b 3 · 0⤊ 0⤋
No. My mother-in-law did just that a few years back when she was 80. She handled everything herself.
2006-11-29 11:45:57 · answer #3 · answered by violet 3 · 0⤊ 0⤋
No its usually cheaper because its a bankrupcy sale or foreclosure
2006-11-29 11:44:26 · answer #4 · answered by cameron b 4 · 0⤊ 0⤋
no
2006-11-29 11:54:07 · answer #5 · answered by icprofit6000 7 · 0⤊ 0⤋
no
2006-11-29 11:42:42 · answer #6 · answered by ? 7 · 0⤊ 0⤋