Tips For Buying Foreclosed Property

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Hotel Muenster of 7:59PM April 04, 2010

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 10:45PM November 09, 2008

Great article and advice.

Peter 9:20PM October 27, 2008

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

of KS 11:33AM September 20, 2008

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 3:31AM August 18, 2008

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 7:23PM June 06, 2008