at a web site gives info about foreclosures, The prices are cheap.do i have to pay more or is the price final?
does anyone know the process of buying a foreclosed house?
The prices are so cheap because the other owner could not afford to pay so they sell it cheaper to someone else to ensure it is affordable. The price is final for the home but all together it is not. You have to pay tax and title!!! But it is still pretty cheap after that. I just got forclosed on my home last year. It was a really nice 2 story house with 3 bedroom, worth 170,000 dollars. The price after forclosure was $46,000 dollars. UNBELEIVABLE!!!!
October 13th, 2009 at 6:11 pm
Advertised prices on the foreclosed houses are not final. You can bid on the house even below the asking price. But go to see the house first as to location and condition of the house. Many foreclosed homes are vandalized either by previous owner or bad people in general.
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October 13th, 2009 at 6:47 pm
The prices are so cheap because the other owner could not afford to pay so they sell it cheaper to someone else to ensure it is affordable. The price is final for the home but all together it is not. You have to pay tax and title!!! But it is still pretty cheap after that. I just got forclosed on my home last year. It was a really nice 2 story house with 3 bedroom, worth 170,000 dollars. The price after forclosure was $46,000 dollars. UNBELEIVABLE!!!!
References :
Also, as the answer states above, some homes my have mold, cracked pipes, or damage. Check for those things. Buying a forclosed home is simple but unexplainable!
October 13th, 2009 at 7:10 pm
No price is ever final. I have bought a few foreclosures. The bank will negotiate on anything, they don’tt want aforecloseded home to sit on their books and lose money on it, they would rather take a lose now than hold it for a long time. Sometimes you can get a great deal! Some banks are a little less lenient.
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