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18343 : Real Estate Advice

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  • Local Info0
  • Home Buying2
  • Home Selling0
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Activity 2
Thu Nov 11, 2010
Erica Ramus, MRE answered:
The Home Path Rehab loan is just one option you have. They're letting you know it qualifies for this type of loan but you are certainly free to choose ANY loan you want.
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Tue Jan 27, 2009
Chris Hoffman answered:
Janice,

Once the bank forecloses on a property, they will have to vacate any current occupants. This can take 4-6 weeks. Then they will contact a REALTOR to finad out how mauch they can sell the home for and list it.

A few things to keep in mind when buying a foreclosure: Bank owned properties are generally sold "as-is" and in mosty cases will require some work, usually cosmetic. Also you will incure soem extra costs when buyinga forclosure. Closing costs are generally higher, and whne you do inspections you will usually have to pay to have the power and water turned on for a day to do your inspections.
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