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what to know about buying a foreclosed home

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If you’re planning to buy a foreclosed home, though, there are some things you need to know before taking the plunge. Forget Auctions. First of all, if you’re new to the foreclosure market, don’t even think about buying a property at a foreclosure auction, says RealtyTrac vice president Daren Blomquist.

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How to Buy Foreclosure Homes for Sale. You’re on the market for a new home when you think, "Why not a foreclosure?" Foreclosed homes are usually cheaper than traditional listings, and there will be plenty of inventory when the economy.

How to Buy a Foreclosure Property in North Carolina Are you interested in adding real property to your 2016 portfolio before the year ends? If you have ever been curious about buying foreclosure property and potentially getting a steal, here is a general run down of the procedure and some helpful tips to get you the best deal. Here is the Sale Procedure: 1.

A foreclosed home seems like the ideal solution: You know that foreclosed properties typically sell for less – sometimes much less – than homes listed and sold on the open market by real estate agents and owners.

While it’s smart to do your homework for every major purchase, buying property comes with some legal guidelines that buyers and sellers should know. state law says that disclosures provide key.

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Is Buying a Foreclosed Home the Right Decision for You? Buying a foreclosed home isn’t for everyone, but if you are looking for investment property you may want to consider it. One of the benefits of buying a foreclosed home is the ability to buy low and sell high. If you are wanting to get into real estate, foreclosures may be for you.

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You will likely be asked to buy the home "as is." There are drawbacks to buying foreclosures, and you must make your offer subject to a home inspection. Some sellers in default will damage homes in foreclosure or strip assets such as kitchen or bathroom appliances.

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Buying a foreclosed home could end up being a great deal if you know what you' re doing. Read these 5 things you need to know before buying a foreclosure.