| With so many options in ways to invest in real estate, | | | | low and sell high. If that is you then foreclosure homes |
| why would you want to invest in foreclosure homes? | | | | are a great choice. |
| While on the surface it seems like a better idea to buy | | | | The reason homes go into foreclosure is the |
| some state-of-the-art condo or country villa that you | | | | homeowner defaults on the mortgage and the bank or |
| pass by on your way to work, wouldn't that same | | | | the lender decides it's time to repossess the property. |
| investment make more sense if you alone discovered | | | | All home foreclosures are sold at public auctions. The |
| that the property was about to be foreclosed? Of | | | | highest bidder wins. These properties are discounted |
| course it would because after you make the purchase | | | | because selling the property is the most important thing |
| you'll still have money left over to fix it up. That is why | | | | to these lenders. They DO NOT want to get stuck |
| investing in forclosure homes is such a great way to | | | | holding a property as this surely a losing situation for |
| go. | | | | them. |
| Many times these days you look at the asking price | | | | An example of the discounts one can expect... if the |
| for the investment property of your dreams and your | | | | outstanding debt to a lender is $90,000 and the price |
| jaw drops. Usually it's because you can't believe the | | | | quoted is $70,000 and the highest bid is $71,000 then |
| high starting price. With foreclosure homes it's usually | | | | the bidder will get the foreclosure for a 20% discount. |
| also jaw dropping but for the opposite reason. All | | | | As you can see it is always going to be less than the |
| foreclosure homes are sold at a discount of anywhere | | | | market price. This is why investing in foreclosure |
| from 10% to 15%... sometimes even more! A smart | | | | homes is a smart idea and a sound investment. |
| investor knows where to find the best bargains. Buy | | | | |