What is the advantage and disadvantage of buying a foreclosure home?
Dec 06, 2009 in
Financial and Loan Tips
Digital Man
I live in Dallas, TX. Will you recommend buying a foreclosure home?
What is the advantage and disadvantage of buying a foreclosure home?
I live in Dallas, TX. Will you recommend buying a foreclosure home?
What is the advantage and disadvantage of buying a foreclosure home?
Please help. I’ll pick the best answer later.
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2 comments
kclifer on December 9, 2009 at 3:04 am
Sadly foreclosures are in abundance.I say sadly becuase plenty of people suffer when they lose their homes to forclosure.
The biggest disadvantage is they are sold as is.
One advantage is there truly are great deals to be had that will put you in equity the minute you close.
Tmitty on December 9, 2009 at 4:13 pm
It depends where and who you buy the Foreclosure property from. Always close at a title company and write your good faith deposit check out to the tile company as well. You really donot know if you are getting a deal or not until you run a title search and get title insurance. A home may look like it has equity unitl you find a 50,000 tax lien attached to the property. So their are good deals if you know how to find them.