Questions To Ask When Buying A Foreclosure

Several investors offered to buy the house or help arrange a short sale. advises homeowners facing foreclosure to ask hard questions of anyone offering to help, be they lawyers or nonlawyers. The.

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Questions to Ask Before Buying a Foreclosed Home – Questions to Ask Before Buying a foreclosed home. february 1st, 2012. February 1st, 2012. Tweet Share Foreclosures can offer big bargains, but buyers need to be careful that they don’t get over their heads in purchasing a home that may need more repairs than they bargained for.

Buying a foreclosed home can be a good way to score a deal while hunting for real estate. A foreclosure is a house whose owners were unable to pay the mortgage or sell the property.

How to Buy a Foreclosure Home or Property From a Bank – 5 Questions to Ask. Don’t expect these houses to stay on the market for more than 30 days. However, if you’re buying a house in sub-par condition or in an area that has been hit hard by the mortgage crisis, a longer market time is expected.

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For some, this means buying a foreclosure. When a homeowner can’t make their mortgage payments, the bank will do their best to recover the money that was loaned. If, for whatever reason, they can’t settle the issue, the home may go into foreclosure, which essentially means the bank sells the home, usually at a discounted price.

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“I mean you never go into a financial obligation expecting that you’re going to ask someone to take. as much as if you went through foreclosure. However, there is one advantage across the board;.