Purchasing a foreclosure?
The inventory for a foreclosed property is very limited and you can possibly be waiting for one to come along that catches your eye. If you do end up finding just the one in the location and condition you desire, it can be a lot less expensive than a normal sale.
There are four different categories of foreclosures; pre-foreclosure, auction, post-foreclosure, and government owned foreclosure. Each category of “foreclosures” can give a more descriptive expectation and timeline when purchasing one of these kinds of foreclosure.
There are five crucial steps of the process of buying a foreclosure. Work with an experienced realtor, credit report, pre-approval, inspection, and make an offer!
You may be looking for a deal on a home but just remember that not all foreclosures are good deals. If you have decided to pursue a foreclosed property purchase the right real estate agent can make all the difference and I would love to help with anything I can in your home buying process!