Why Consider Buying a Foreclosed Home?
The Benefits
The two biggest reasons any homebuyer should consider a foreclosure sale are:
More flexibility in loan and purchase terms, and a better price!
As a Consumer: You Can't Afford NOT to Look at Every Option!
And foreclosure sales are definitely worth a look. The real estate market is hotter than ever-the home buying binge has forced prices up and supply down. In many metropolitan areas, homebuyers race to open houses, and try to outbid each other.
On a distressed property, you can often negotiate better terms and a better price, because you're dealing with a motivated seller.
What Are the Possible Downsides? Are there any?
There are risks to every home purchase, and distressed properties are somewhat unique. You'll need to make sure the home is free of defects or damage. There might be a little more red tape involved than a standard home purchase. And you need to make sure the long-term property value is sound.
It's Just Weighing the Pros and Cons
Ignore the myths and explore the real story! Let's look at foreclosure sales and how to find one that might put you into a home at a great price!
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