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How do you go about buying a foreclosed home?
Posted on 2/1/09 at 4:18 pm
Posted on 2/1/09 at 4:18 pm
Do you sign up on a website that lists foreclosures or do you go to a bank and ask for a list? Thanks.
4
Posted on 2/1/09 at 4:32 pm to TigerRanter
At this point in the game, I would wait until they go through sheriff sale so you can make sure it has a clean title. Too any people not paying bills to buy on a short sale unless you are really seasoned IMO. Be careful about sheriff sales though. They aren't all good deals. Some banks buy the house back for more money than they trun around and put them on the market for. That being said, find a realtor that specializes in REO properties.
This post was edited on 2/1/09 at 4:36 pm
Posted on 2/2/09 at 9:51 am to TigerRanter
look in the newspaper and find a home you are interested in and then hire a real estate attorney to handle the transaction. title work should be performed before you bid on the house.
Posted on 2/2/09 at 6:07 pm to Hired Gun
Thanks for the info.
Posted on 2/2/09 at 11:31 pm to TigerRanter
go to detroit and you can buy foreclosed homes for like 100 bucks.
Posted on 2/3/09 at 12:14 am to sheek
What's their unemployment rate now, 20 percent?
Posted on 2/3/09 at 2:24 am to LSUtoOmaha
quote:
20 percent
i think around 18 percent.
Posted on 2/3/09 at 7:09 am to TigerRanter
In Lafayette Parish you can sign up on the Sheriff Department's web site to be notified by e-mail of upcoming sheriff's sale. I get a notice each week - includes houses, cars, motorcycles, etc. Not usually much on it though.
Posted on 2/3/09 at 8:49 am to stout
quote:
Too any people not paying bills to buy on a short sale unless you are really seasoned IMO
Can you elaborate a little on that...what's wrong with a short sale right now? I'm looking into one with my realtor as we speak...
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