Foreclosures
Foreclosures
Foreclosures
Seems like every news channel can only talk about foreclosures as if they are the bane of civilization.
It is very unfortunate that individuals had a personal dilemma that caused their house to be foreclosed upon. There are truly some horrible stories of job loss, separation/divorces and investments gone bad that underly the bevy of foreclosures on the market.
Yet to see the silver lining of the foreclosures present in the market does not make the buyer a "vulture". Rather the foreclosures are a once-in-a-life opportunity for buyers to enter the housing market at the bottom with future equity growth all but guaranteed. Foreclosures = Cash!!!!
Foreclosures can be bought at Auction at the Court House steps(in most states) or after the Auction when the Foreclosure is listed by the bank with a Realtor because the bank buy house back as no "reasonable" offer was submitted. Both Foreclosure purchases have risks but the Court House Auction is riskier due to Redemption clauses in almost any and all Foreclosures.
Yet neither is to be feared.
BUT THE BUYER MUST BE PREPARED, KNOWLEDGEABLE AND REALISTIC WHEN BUYING FORECLOSURES.
Are you prepared?? Knowledgeable of the process?? Have Realistic expectations???
No comments:
Post a Comment