What are the aspects that I need to be carefull when buying a Foreclosure with Cash to ensure a secure and safe transaction?

Asked by Baldo, Miami, FL Tue Aug 31, 2010

I am a first time home buyer and i am not familiar wityh the process, and even less with Foreclosures. I will be engaging a lawyer soon.

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5
Donna Concan…, Agent, NEW SMYRNA BEACH, FL
Thu Sep 2, 2010
Work with a REALTOR and Title Company or Attorney who are experienced and the process will be smooth. Look for a CDPE REALTOR in your area. Go to cdpe.com
1 vote
Charlie Matt…, Agent, Miami, FL
Wed Sep 1, 2010
Hi Baldo - It is extremely important to deal with a realtor that has knowledge about the foreclosure process and one that has deep knowledge of the community you want to purchase in.
Web Reference:  http://miamirightnow.com
0 votes
Bill Eckler, Agent, Venice, FL
Tue Aug 31, 2010
Seek your own personal representation....not the bank's listing agent. This way you can be sure your interests are being safeguarded not the banks.

If venturing into the condo market, be certain that the community you are venturing into is solid and not teetering on the brink of disaster. Be sure to request financial and budget records that will assist you with an accurate evaluation.

Good luck,

Bill
0 votes
Kristen Blan…, Agent, Dracut, MA
Tue Aug 31, 2010
Definitely hire an attorney to help you. You need to make sure the title is clear and there are no outstanding liens on the property.
Web Reference:  http://www.sellyourden.com
0 votes
Jane Grant, Agent, Aguanga, CA
Tue Aug 31, 2010
Baldo: Your lawyer will certainly guide you and if you obtain the services of a Realtor who knows the area you will have added protection regarding pricing in the area you are choosing to buy.

Clear Title with no liens, such as tax liens, mechanics liens, HOA liens need to be researched. That is the reason you will ask for a Title Report and Title Insurance policy from the Seller.

Good Luck and Happy Home Buying!
Web Reference:  http://www.soreal.biz
0 votes
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