Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Paul asks…

Foreclosed homes?

I am looking at buying my first home and in the process I have stumbled upon some Foreclosed homes. Is this a good idea, MUCH cheaper as far as I can see but seems too good to be true. Has anyone else ever bought a foreclosed house? Where is the best place to look for these homes? Is there any negatives to these homes? What do I need to watch out for?
I am in the state of Iowa, if you could give me any ideas of where to look for these homes I would appreciate it.
Real estate agents assist with foreclosed properties?

Your Questions About Foreclosures

The Expert answers:

A good real estate agent should be able to walk you through it, but make sure they are acting as YOUR agent and not the seller. The key element of purchasing foreclosed property is title insurance. Do not buy without it. It protects you against prior claims against that title that did not get resolved in the foreclosure.
Of course – a very good inspection is in order too.
Depending on how long the property sat without maintenance, you may have some rehab to do, too. People facing foreclosure do not spend on maintenance projects.
-Using a real estate agent is a MUST for negotiating with the bank or other entity that owns the property, and for their knowledge of the laws in your location. You may find the property, but have them contact the seller.

Your Questions About Foreclosures

David asks…

foreclosed homes?

if foreclosed homes are so cheap and such a good deal, why do people by regular houses at all?

Your Questions About Foreclosures

The Expert answers:

Foreclosed homes may or may not be available in the neighborhood you want. If they are, they may have been sitting vacant for some time, and homes sitting idle seem to deteriorate rapidly. Another problem is that some people, knowing they are about to be foreclosed upon, trash the house for spite, so you’re getting a “deal” with holes punched in the walls, broken windows, ripped out plumbing, and sabotaged air conditioners. Most foreclosed homes need so much rehab that the average home buyer can’t afford the house and the repairs, too. Then there is the problem of the complicated paperwork. Will the bank or lending agency holding the lien approve you? If this is a tax sale, does where you are buying require you wait two years and one day to apply for title? More aggravation than the average person wants to experience. Buying a home is difficult enough when it is a smooth, seamless transaction.

Your Questions About Foreclosures

John asks…

Foreclosed Homes?

Hello, I am looking to buy a foreclosed home in Polk County Florida. Could anyone tell me of a GOOD reputable website to go to that will give me addresses of the homes also?? THANK – YOU!!

Your Questions About Foreclosures

The Expert answers:

I own a ohio free public records site and I know for a fact that you can get a list of foreclosed homes up for auction in each county at the sheriff’s department website and if they don’t have a website call them and ask for one. Never pay for these when you can get them for free.

Your Questions About Foreclosures

William asks…

How do I find foreclosed homes in my city without paying for them?

I am always hearing about all of these foreclosed homes, and how you can buy one at a fraction of the price of a normal home. However, I am clueless on how to obtain a list of foreclosed homes. I am in the beginning stages of house hunting, and would like to know where to start. Thanks

Your Questions About Foreclosures

The Expert answers:

You will have to go the various government websites like HUD and FHA and search their listings. This is the source of a lot of the foreclosed homes listings that you pay for.

Alternative: find a realtor who is authorized to handle HUD/FHA foreclosure properties, and have them show you the ones in your area.

Your Questions About Foreclosures

Carol asks…

How many foreclosed homes are in the possession of the government in California?

I need to know the numerical figure of the number of foreclosed homes that the state of California now has possession of. It’s for a research project. Thank you!

Your Questions About Foreclosures

The Expert answers:

Check pemco. The number will be around 30. It changes every Friday.

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Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures

Your Questions About Foreclosures

Your Questions About Foreclosures