How do I learn about buying real estate foreclosures?
Posted on October 26th, 2009 in Renting & Real Estate | 4 Comments »
norton2628 asked:
All of the websites seem to be fake and want to make me join etc.
I am wondering how to invest in real estate foreclosure listings for real!
4 Responses
Truck Frame Straightening
There is no secret to buying foreclosures. You can buy them at the foreclosure auction itself. You bid. If you win, you must pay cash; no loans. That is why no one bids at them.
After the auction, a For Sale sign goes up in the front yard. That is the time when it is easy to buy them. You make an offer and get an answer in 4 days. The purchase is easy if you pay cash. If you get a loan, there can be problems. Most lenders will not loan on a house with missing faucets, missing stoves, empty swimming pools (typical repo’s). But the seller (a bank) will not do any repairs to the house. So you have to make sure that the lender you choose will not demand any repairs. Then you can buy the house …. just like any other house for sale. Once you own it, you can fix it up quickly or slowly. But it is yours..
Marathon FL Keys rentals
Get a good foreclosure agent (like myself) in your area. Only deal with someone that has over 100 properties annually, not a part time agent. For an agent to take you seriously, you need to be well qualified to buy with at least 20% down/fix up costs. I also strongly advise having a good buffer of funds in addition to this.
Absecon NJ homes
You dont need to join a website to get listings. However, what we have done at the office is purchase a marketing kit from it worked well because we were able to target specifically the listings we wanted…and my boss was thrilled because our completive advantage increased drastically! But check it out, and if you have any questions I’d be glad to help (or I’m sure you can contact the site owner).
Westchester Real Estate
try this tips on how to buy foreclosure real estate at
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