Home Buying in Florida>Question Details

Kim, Home Buyer in Port Charlotte, FL

We are buying a foreclosure in Port Charlotte, paying cash. Should we have a realestate attorney to complete this transaction? What are our risks?

Asked by Kim, Port Charlotte, FL Thu Jan 17, 2013

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Why sink so much money into DEAD EQUITY paying cash when Tax Deductible rates for qualified borrowers are in the 2% range??

What is that, like a .5% EPR on that money after factoring back in the tax write off?

You may want to consider financing part of the home as I believe a person could get more than a .5% turn on thier money in other investements don't you?

See possible loan programs here: http://www.pro-option.com

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0 votes Thank Flag Link Thu Jan 17, 2013
When buying a foreclosure be cautious and make sure you protect yourself with home inspections and a complete title search and title policy. Most banks have a title company close the transaction however if you feel more comfortable having a lawyer handle it you need to have that in your contract and agree to pay the expenses of the attorney.
0 votes Thank Flag Link Thu Jan 17, 2013
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