Tuesday, April 07, 2009

Thinking Of Buying A Foreclosure Property

Six Questions You Must Ask

Is Now A Good Time To Buy A Foreclosure?
Because local market conditions vary the answer is going to be different. Buyers should be asking questions before they make an offer on any foreclosure property.
What's The First Step A Buyer Needs To Make?
Get pre-approved for a loan before you begin shopping.
How Can You Tell A Bad Foreclosure From A Good One?
There are lots of great deals out there. Make sure you work with a Realtor who can guide you through the potential problems associated with buying a foreclosure.
I'm A Qualified Borrower Can I Appeal To Banks For Better Terms?
Lenders have lots of defaulted mortgages, many of them will offer a below-market loan on a bank owned property.
What Are The Costs Of Buying A Foreclosure?
Figure commissions, closing costs, repair costs and upgrade costs and add at least 10% to that figure as a "surprise" fund.
How Does Choice Of Neighborhood Affect Foreclosure Investments?
Avoid areas overrun with foreclosures, particularly newer subdivisions in overbuilt suburban areas. Choose established neighborhoods with good schools and transportation.

For additional information, questions or a list of local foreclosures please contact The H Team today.

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