how do i buy a foreclosure house?

Asked by Bernard, Brooklyn, OH Tue Sep 2, 2008

do i need to bid on it? any extra fees?

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Robert Fine, , Staten Island, NY
Wed Sep 3, 2008
When buying a foreclosed home in Staten Island the buyer pays the Transfer Taxes, which is approximately 2%. In addition you will buy the home in an As Is condition without warranties. If you buy at auction you need to pay 10% cashiers check within minutes. Many foreclosed homes are already listed in MLS, so seek out a local Realtor.
Robert Fine
Lic. RE Salesperson
e-Pro; AHWD
V.I.P. Real Estate, Inc. 718-967-2600
0 votes
Richard M. J…, , Sherman Oaks, CA
Tue Sep 2, 2008
Hi Bernard, there are may ways to purchase a foreclosure home. The choices are; from the seller in default, at an auction, from a bank owned home listed with a Realtor. There are auctions happening in every state. There are several companies who specialize in property auctions. If you search online, you will find them.
0 votes
The Hagley G…, Agent, Pleasanton, CA
Tue Sep 2, 2008
You can also find more well as REO the site below!
0 votes
Bill Eckler, Agent, Venice, FL
Tue Sep 2, 2008

Contact a real estate professional from your area. they will lead you through the process, looking out for your best interest and helping you to find your ideal property.

Good luck,
The "Eckler Team"
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