Foreclosures: 101

Are foreclosures for you?

Have you been thinking about buying foreclosures?  Even if you are a seasoned pro, it is always best to have the assistance of a licensed real estate broker who has the experience and knowledge to see that you are not only the winning bidder, but also the happy owner of a property that will yield you maximum equity and profits.

Buying foreclosures can be a way to successfully build a portfolio of cash flow properties but the potential exists for multiple headaches and problems during the process.  Also known as HUD homes, bank owned properties, distressed homes and short sales, foreclosures are available to qualified buyers in most towns and cities of all sizes and even in rural areas far from larger communities.  Knowledge about the area and market valuations is of utmost importance when considering the purchase of a foreclosure.  Your broker can give you the necessary information to make wise decisions during the bid process.  Choose someone who has a great deal of experience in successfully closing similar transactions. Continue reading