Are there catches to buying foreclosed homes, then just purchasing a home that is offered through a Realtor on the market?
2007-09-04 02:19:31 · 4 answers · asked by joeyz51 2 in Business & Finance ➔ Renting & Real Estate
Realtors sell foreclosed homes every day. We can and do sell every home on the market.
Maybe your question was would it be better to buy a home that is in foreclosure (or one that has been foreclosed on) or to buy a home still owned by an individual.
I think the answer is to look at all the inventory. Don't restrict yourself artificially. Pick the home that delivers the most home for your money.
My experience is that a huge number of people believe they should only look at foreclosure and so they end up spending much more than they should. The excitement of thinking you are getting a bargain makes people pay to much.
Your Realtor can show them all to you. At least in my area the HUD homes, the VA foreclosures and most of the bank owned homes are all in the MLS. That means you can search for them on the public websites! Your Realtor can help you, let him.
2007-09-04 02:26:47 · answer #1 · answered by glenn 7 · 0⤊ 0⤋
Just finding the best ones before others get to it. It's great when you find a property in pre-forclosure or forclosure selling below market on your own. Agents pretty much sell forclosed properties at market value.
See: http://sogr1000.foreclosur.hop.clickbank.net/
2007-09-04 03:31:48 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You generally will get the house cheaper. You most likely will also have to do repairs. No significant catches esp for make sure you that the real estate agencies you are dealing with are reputable.
2007-09-04 02:26:50 · answer #3 · answered by Bob D 6 · 0⤊ 0⤋
You can buy foreclosures though agents. ALL of them are sold that way. The banks have agents representing them, and buyers agents are acceptable.
2007-09-04 02:33:05 · answer #4 · answered by Elsa D 6 · 1⤊ 0⤋