Comments on: What should a person expect when purchasing a foreclosure home? http://www.jjrealestatebg.com/usa-real-estate/what-should-a-person-expect-when-purchasing-a-foreclosure-home Pure Real Estate Sun, 14 Mar 2010 00:33:11 +0000 http://wordpress.org/?v=2.7 hourly 1 By: acermill http://www.jjrealestatebg.com/usa-real-estate/what-should-a-person-expect-when-purchasing-a-foreclosure-home/comment-page-1#comment-719 acermill Sat, 17 Jan 2009 20:30:59 +0000 http://www.jjrealestatebg.com/usa-real-estate/what-should-a-person-expect-when-purchasing-a-foreclosure-home#comment-719 Buying a foreclosure from a lender is generally the same as buying a conventional purchase, except that they are nearly always sold 'as is' by the lenders. A thorough inspection is recommended, either professionally or by trusted friends who know what they are doing. You are expected to either pay cash or finance this purchase as you would any other home purchase. If you are contemplating buying directly at the sheriff's sale of the property, be aware that the lender will have a representative present to insure that any final bid exceeds the amount owed to the lender on the home by the defaulting seller. Buying a foreclosure from a lender is generally the same as buying a conventional purchase, except that they are nearly always sold ‘as is’ by the lenders. A thorough inspection is recommended, either professionally or by trusted friends who know what they are doing.

You are expected to either pay cash or finance this purchase as you would any other home purchase.

If you are contemplating buying directly at the sheriff’s sale of the property, be aware that the lender will have a representative present to insure that any final bid exceeds the amount owed to the lender on the home by the defaulting seller.

]]> By: Robert http://www.jjrealestatebg.com/usa-real-estate/what-should-a-person-expect-when-purchasing-a-foreclosure-home/comment-page-1#comment-718 Robert Fri, 16 Jan 2009 01:30:22 +0000 http://www.jjrealestatebg.com/usa-real-estate/what-should-a-person-expect-when-purchasing-a-foreclosure-home#comment-718 Good question...depends how much they bought it for...the conditions of those homes ranges all over Good question…depends how much they bought it for…the conditions of those homes ranges all over

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