Question Details

Neophyte, Other/Just Looking in 92108

When to buy a house headed for foreclosure?

Asked by Neophyte, 92108 Wed Jan 21, 2009

Is it best to try to buy a home headed into foreclosure before the trustee's sale, at the trustee's sale, or after the trustee's sale?

I have heard that it takes a long time to get a short sale approved. I have also heard that buying at the trustee's sale is risky. Would someone who waited until after the trustee's sale be likely to get a good price? (Or would the buyer be likely to add a hefty mark up?)

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