 | Daily Real Estate News | October 30, 2009 |
Foreclosures Tricks and Treats
HGTV’s real estate Web site Frontdoor.com has identified what it calls the “tricks and treats” of buying a foreclosure:
Tricks to avoid:
- Just because a foreclosure has a low price tag doesn’t mean it’s a bargain. Many need lots of expensive repairs.
- Buying a foreclosure property isn’t for amateurs. Buyers need a knowledgeable real estate practitioner to guide them through the process.
Foreclosure treats:
- Well-maintained foreclosures priced at 50 percent or less of their market value make homeownership very affordable.
- Building a relationship with a lender’s REO (real estate owned) department can help when it’s time to make a deal.
Source: Frontdoor.com (10/29/2009)
Browse all of today's news
|  |
|