Tips For Buying Foreclosed Property

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Foreclosurers

Banks are not always as honest and forthright as they would like you to believe. This includes selling real estate that they have repossessed and listed with real estate companies for sale. Specifically, my experience working with real estate agents submitting purchase contracts in excess of the Bank's asking price have not been acknowledged or addressed because of the Financial Institutions waiting to evaluate the Governments "Bail Out Plan" before proceeding with active commerce. In the meantime, the property values have further declined, interest rates gone higher and local property taxes unpaid. Who is the winner?

Certified Public Accountant of TX @ Nov 09, 2008 22:45:57 PM

Buying Foreclosure Property

Great article and advice.

Peter @ Oct 27, 2008 21:20:47 PM

Can you still make an offer on a foreclosed home if you still have a home to sell?

of KS @ Sep 20, 2008 11:33:17 AM

Tips

I've got the money, if the bank does not want it, then that's OK. They can keep the property and I will buy it from their successor. I like it when they play hard ball.

John of FL @ Aug 18, 2008 03:31:47 AM

Signed papers at closing but not allowed to take possession

I went to closing today on a foreclosed home. Signed all the papers and the attorney had the money from my mortgage company to wire to the bank. I was not given the keys and told we could not take possession until the money was wired to the seller and the seller signs the HUD paper.

I thought once we signed the papers at closing then the house was ours and we could take possession.

I

Kerrie Glenn of SC @ Jun 06, 2008 19:23:20 PM

Linda Davis and the Zen Of Bank Owned

That's what I called it when I read it....zen! good advice from a great Broker

Carole Cohen of OH @ May 08, 2008 21:47:14 PM

The Foreclosure Market takes alot of patience

This foreclosure market takes patience and an expert to guide you through. Helpful list from Linda and very timely.

Teri Isner of FL @ May 07, 2008 20:53:38 PM

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The Home Front

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