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Home Buying in Cheeseman Park : Real Estate Advice

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Sun Apr 7, 2013
Robert McGuire answered:
Donna,

Good question. there certain risks inherent in the purchase of a foreclosure. 1. Assuming it is a good deal because it is a foreclosure. Have your Buyer's Agent do a strong CMA to determine accurate value. Don't pay to much for the home. 2. There is not a Seller's Property Disclosure, so you really need a good accredited home inspector to check it out. You could get the home ad a low price and then find that you are in over your head with expensive repairs. 3. One of the frustrations of Denver foreclosures now is that there is a shortage of home and foreclosures are in demand by owner occupants as well as investors. The banks are listing the homes at low prices to create 'bidding wars' and often the sales price can wind up 10's of thousands over the asking price. In some cases it can stil be worth it. Work with an experienced agent in this process.

Robert McGuire ASR
Realtor/Consultant
Your Castle Real Estate
Direct - 303-669-1246
http://about.me/robertmcguire33
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