Does anyone know of a source where I can find foreclosed apartments in NYC (Manhattan)? I was thinking of buying one. Can i actually get one if I have at least $25,000 saved up? Need advice.
2006-12-25 11:56:49 · 1 answers · asked by D 1 in Business & Finance ➔ Personal Finance
Be careful with foreclosures. You can be liable for unpaid taxes.
You also usually can't inspect a foreclosed property so it could be in disrepair. It's hard as hell to get a good deal on a foreclosure. Usually you save 20% at best. Plus you need to have your financing in place beforehand. You can do it, but don't expect to get a place for nothing and be aware of the risks. I also think you'll need more than 25k. Places in Manhattan aren't cheap. Do your homework, I could be wrong. I hope you get a place.
2006-12-26 16:45:22 · answer #1 · answered by Big R 6 · 0⤊ 0⤋