If you are looking for a great deal on a home, you may consider buying a foreclosed home. A foreclosed home or foreclosure is a home that has been foreclosed on and taken back by a mortgage lender or trustee. A bank is not in the business of holding homes, so their intent is to sell a foreclosure to satisfy as much of the outstanding loan as possible. In many cases, a bank will accept less if market conditions are not favorable. Note that there are sometimes additional costs, such as back taxes or eviction costs involved with a foreclosure. Many times there is little or NO warranty and the home is sold "as-is". Please consult with one of our agents and get a BPO (broker price opinion) and home inspection before making an offer on a foreclosed home.
Also view our Short Sale properties for other great deals.
Contact Us if you have any questions at all about the foreclosure process or Pre-qualify to determine what your buying power allows you to buy in today's market. You might be surprised at what you find out as lender's requirements are changing every day.