is it bad to buy a foreclosed home

is it bad to buy a foreclosed home

How to Buy a Foreclosure Property in North Carolina. – Things to Consider When Buying a foreclosure property. 6 taxes due are NOT prorated. Therefore, if you buy the property in November of 2016, and the 2016 taxes have not been paid, you will have to pay the entire amount, not just for the months of November and December.

Is buying a foreclosure smart for a first-time home buyer. – Yes, but not necessarily for the reasons you might think. The truth of the matter is that it really doesn’t matter. The fact that a home has been brought to market as the result of a foreclosure action, or any other unusual or distressful circumst.

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5 tips for buying foreclosed home – Story | WAGA – PREPARE TO LOSE IT. Buying a foreclosed home is not like buying a regular house where you and the seller enter a contract and if folks back out there is a financial penalty. In the case of a foreclosure, the lender, ultimately selling the house, really wants top dollar. You, on the other hand, want a deal.

Buyer beware: foreclosed homes and black mold | Old House Web – It’s difficult to pick up the paper or watch the news without seeing a report on foreclosed homes flooding the market. This backstock of homes created in the past several years motivates many lenders to move them at a fraction of their appraised value.

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Pros and Cons of buying a Foreclosed Home? : RealEstate – Our foreclosure is only 6 years old so, other than being dirty and needing paint, is a very sound home. Our yard is green but it’s not grass, we’ll have to do that too. Overall, we’re very happy with our home. We had bid on other foreclosed homes and the competition was really tough. In just a few days, most of the homes had 3-10 offers on them.

When Foreclosure is a Good Option | My Money | US News –  · When Foreclosure is a Good Option A close look at the numbers reveals that sometimes it’s a good idea to let your house go. By Alan Dunn , Contributor Sept. 29, 2010

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