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Usually you must contact banks in your area in order to buy them.
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∙ 14y ago
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Do you need a license to buy foreclosed property?
No license is needed when buying foreclosed property mainly because nothing special is needed to buy property. When a bank auctions off a property all you need is money to buy that property and nothing else
How can you buy a house after it has been foreclosed and not sold at auction?
You can contact the lender or lien holder who foreclosed on the property and make your offer to them.
What if you buy a property that was orignially foreclosed by fraud?
If the foreclosure was no good you may not own the property. In other words, your title is only as good as the foreclosure.
How can you buy an investment property?
You can purchase an investment property either through a local real estate agent or through a bank selling foreclosed homes. The foreclosed home route offers you a cheap entry point compared to most other options.
Where is the best place to buy property in?
The best place to buy property is in Phoenix, Arizona. The real estate market is very healthy and the prices for homes are affordable. Many people over the last 8 or so years have been buying property in Phoenix.
What are the pros and cons of deciding to buy foreclosed property?
On the pro side you can get property for cheap. On the con side you can inherit some unforseen issues like back taxes or structural problems with the property.
What are the advantages of buying a foreclosed home?
You could buy foreclosed home below market value, ranging from 10%-50%. With this you could save a lot of money and if you decide to sell your newly purchased property you will have huge returns from your investment.
Do you know the best way of how to buy a foreclosed home?
The first step in buying a foreclosed property is to get a very good realtor. A good realtor knows the market and he knows houses. He will work to see if this property is worth or efforts and if it is worth the asking prices. A house should not be bought just because of the price tag being "below the market value". The realtor will walk you throught the whole process.
Is it bad to buy a foreclosed home?
yes
Can Americans own a house in Japan?
Anyone can buy property in Japan. You can buy from real estate agents and pay 3% commission. The vendor pays 3% as well. The trick is to buy foreclosed property in Japan because its far cheaper than buying foreclosed property in other countries, including the USA. Many foreigners buy foreclosed properties in Japan, because the locals are not very commercially astute. They have no idea on how to manage money. They mostly leave it to housewives happy to earn 1% on their postal savings. Foreclosed properties can be bought at anywhere between 5-70% discount off market price depending on if you buy in central Tokyo or in rural depopulating areas. The prices range from $10,000 up. The properties are sold through the Japanese prefectural court system. You pay 20% deposit, then you have several months to pay the balance.
Making Smart Real Estate Investments?
With over 1 million foreclosed homes available for purchase in the United States, it is no wonder investors are quickly snapping them up. To get a piece of the real estate pie, you should consider investing in a foreclosed property. Foreclosed properties are also referred to as "fixer uppers," because they can require some maintenance work before they can be sold again. Before you purchase a foreclosure to fix up and resell, consider these tips to make the smartest real estate investment choice possible.Choose a Good Location Just because a foreclosed property is dirt cheap does not mean it will yield a profit. Make sure the foreclosed property is in a good area. If it is in a poverty-stricken area of a large city, then the foreclosed property is not a good real estate investment. However, if the foreclosed property is located in a suburb with a good school district, then this may make the perfect real estate investment.Make Sure Repairs Are Affordable Some foreclosed properties are only thousands of dollars, but they require hundreds of thousands of dollars in repairs. There was a case in Florida, where a proud homeowner bought a foreclosed property for only a few thousand dollars. The property was located in a beautiful area of Florida. However, upon arriving to the property, the owner discovered the house was filled with over 300 snakes. This is just one of the example of what may be lurking behind the door of a foreclosed property. A foreclosed property is not worth the investment if it will require substantial pest control services or maintenance work.Have Cash Ready If you can pay for a foreclosed property with cash, then you may be able to beat out investors. One of the most difficult parts of buying a foreclosed property is beating out investors. If you can pay for the entire home with cash, then you will stand a chance in buying the property.Investigate the AreaBe sure to do your due diligence on the area and make sure no sex offenders are located near the home. Searching the sex offender registry in your area is one way to determine if sex offenders live in close proximity to a foreclosed property. Buyers do not want to buy a home that is unsafe for their children.To make a wise real estate investment, consider these four tips before you purchase a foreclosed property.
If lease with option to purchase been foreclosure on what happens?
Sorry, the question is totally unclear. Do you want to buy a foreclosed property that had been lease optioned -OR- is it your lease-optioned property that is in foreclosure? Are you the property owner or are you the person trying to buy it via lease-option? Please re-word the question and re-submit it.
