CAN I BUY A FORECLOSURE?

Asked by Robert Layton, West Haven, CT Wed Oct 26, 2011

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Carol Perdew’s answer
Carol Perdew, Agent, Manteca, CA
Wed Oct 26, 2011
Robert,

There are foreclosed homes on the market that are available for sale. The banks are looking for the highest and best offer typically no less than market value. Your real estate professional can assist you with the bank-owned homes in your area

Be aware that the banks do not know the condition of the bank-owned homes and they are sold as is. Buyers are encouraged to have inspections and investigations for a bank –owned home purchase to be aware of the condition of the home. You do not want to be surprised with unexpected repairs after you move into your new home.

Thanks,
Carol Perdew
Prudential California Realty
(209) 239-7979
Carol@PerdewHomes.com
DRE985176
0 votes
Tim Moore, Agent, Kitty Hawk, NC
Wed Oct 26, 2011
BEST ANSWER
If you mean a home in foreclosure at the auction at the courthouse, yes. You will bid on it and the bank that has the loan will be bidding. Normally the bank wins, but you can try. I suggest you do a title search and have some experience to get into these things. You will be required to make a cash down payment with the rest due soon in cash.

If you are talking about a bank owned home that went through a foreclosure, then yes again. Seek out a Realtor to work with and let them guide you.
0 votes
Julie Traver…, Agent, Southbury, CT
Wed Oct 26, 2011
yes you definitely can and your offer would state if you are purchasing it with cash, rehab loan or a mortgage. If you need assistance or any listings, please let me know. Julie Lucia, Showcase Realty, 203-578-5631; julie@julierealestate.com
0 votes
Marcus Santo…, Agent, Litchfield, CT
Wed Oct 26, 2011
Is that a serious question? Not really sure what you mean by that. Certainly, if you have the money or the financing in place!
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