With real estate being such a popular investment opportunity, people are looking at foreclosed and pre-foreclosed houses. Depending on the situation, this can be a beneficial transaction for both parties. But there is a risk involved. It can be hard to tell the difference between an inexpensive and an undervalued property. It’s important to do research on the property because these properties might not be the deal that a buyer expects.
- The foreclosure tsunami has started to subside and the prices of foreclosed properties have begun to stabilize.
- It is during this stage wherein the mortgagee has already defaulted in the payment and the mortgagor or the lender has already sent a notice of default.
- Buying this type of property might not be the best option for real estate investors. However, it could be the best option for those who simply want to own decent homes.
“Bargain hunters usually do not have the negotiating advantage when it comes to bank-owned homes or foreclosed properties.”
Alliance Credit Counseling
8000 Corporate Center Dr Suite 114
Charlotte, NC 28226
(704-341-1010) / (704-341-1010)
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