How does the sale of a house that has been foreclosed on work.?
I have seen homes that have been foreclosed on that are really inexpensive. When I asked my real estate agent about them. She can’t find a listing. From what I’ve seen on the news. They hold public auctions on the steps of the assessors buliding. Then I was told that you have to place some kind of deposit to be a part of the auction it self. A fee that is non-refundable. I’m looking for a house to live in. Not an investment. I’m NOT interested in flipping. Please help need info.
Sacramento Calif
Your agent should be able to find them on MLS.
DO NOT buy on the courthouse steps… you can get screwed. You dont know what you are getting. There was a recent case on the news of someone spending 2 million on a 3 million dollar house on the courthouse steps… great deal, except the entire house was full of cat crap and urine, hardwood floors were bowed and ruined, the whole house had to be completely gutted, at a cost of 2 million… not a good deal.
And investor can take a hit it if happens, but as your primary residence, you cant.
If you buy a foreclosure house, get it post-foreclosure so you can actually SEE the house, and make an offer….
Also, builders are giving some really awesome deals right now, as they are desperate…. be sure to check them out….
Flipping Homes & Investing in Real Estate in York, PA
Tags: flipping, housing, news, real, realestate
