Tips On Buying A Foreclosure

I am not a real estate agent nor do I pretend to be one so make sure to always consult one and make sure they are an expert when it comes to foreclosures. 

The article below has some neat websites you can check out to search for foreclosures but my personal opinion is to have a real estate agent do it for you.  As a buyer it doesn’t cost you any money other than maybe a $300 realtor processing fee. 

The most important thing to do is to get an inspection by an expert.  I would personally use a contractor I know to find out the real costs involved in the home. 

“Sometimes, people set their sights on bank-owned properties “like the word ‘foreclosure’ equals ‘good deal,’ ” says Mark Goldman, a mortgage broker with Cobalt Financial and a real-estate lecturer at San Diego State University. But that’s not always true.”

http://online.wsj.com/article/SB125399707660143695.html?mod=rss_PJ_Main