In the past, buying a foreclosed home was a very challenging process. This was because of the limited supply of foreclosures. In many cases, it took several weeks, if not months, to find a good foreclosure. Next, you had to win the bidding war to buy it and finally you had to have a bank truck of money to repair the new home. Well, this changed with the foreclosure crisis. More recently, there is a large supply of great foreclosure opportunities. In fact, you can find these homes very quickly; banks are accepting lower offers because of the supply, you don’t have much competition, which means no bidding war, and believe it or not, the homes are in much better shape. In fact, there are even brand new homes that have never been lived in which have been foreclosed upon.
If you are thinking of buying a home or investing in a foreclosure, you will want to start here to answer a lot of your questions and concerns. This information will save you dozens of hours and thousands of dollars buying a foreclosure properly. So don’t hesitate buy today and start saving tonight!