Is It A Good Idea To Buy A Foreclosed Home
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- Apr 16, 2020 · Buying a foreclosed home can be a good idea if you have the financial cushion to absorb any potential problems. If you aren’t worried about there being potential issues or the cost to repair them, then buying a foreclosed property is likely a worthwhile investment for you.
- Why is it a good idea? Buying a foreclosed home can unlock the potential for major cash flow. Foreclosed homes often sell for below their market value making them a great investment for buyers that are able to buy low, fix repairs, and sell high.
- Apr 21, 2020 · A home that’s been foreclosed on has been repossessed by a lienholder, usually a bank. But you can actually buy a foreclosure property before then, like at a public auction, or even during the pre-foreclosure process. Buying a foreclosed property may seem like a smart idea, but it may not always be worth the time or the money.
- Buying a house that is in foreclosure is often touted as a way for both owner-occupants and investors to get a great deal on a property. However, the …
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