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How To... in Delanco : Real Estate Advice

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Fri Jul 29, 2016
MCM_STL answered:
Let's be clear on something. You can buy a home that

1) is being foreclosed on via an auction. You must buy sight unseen with no inspections and pay cash for this home.

2) has been foreclosed on by a bank. These are also be called REOs. They are listed with real estate agents just like any other house. They're a bigger pain in the tail to buy than an non-REO homes but you can (provided the condition is good enough to qualify for a loan) finance them and obtain inspections.

If you plan to pursue the second option, you definitely want a buyer's agent.
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