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Buying foreclosures

Profile picture for nwofse
Contributions: 2

How do I start learning about buying foreclosures?
I just want to buy one for my own personal use, not to re-sell.
I thought it would be a good time to buy something cheap, but I don't know where to start and some friends have cautioned me that I could stuck with a bad piece of property.

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December 20 2008 - San Diego

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Profile picture for ShawnPru
Real Estate Agent
Contributions: 80

Please find a good experience local Real Estate Agent who knows how to handel forclosures.

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December 22 2008
Profile picture for FriendshipProperties
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If you mean a property thats already been foreclosured on, than your talking about a Bank Owned (REO). These are sold As Is and with strict contracts in favor of the Bank.  Most need significant repairs. Bring someone who can estimate those repair costs for you so you can decide if it really is a good deal or not.
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December 25 2008
REO's can be a great buy!
The first place to start is with a loan.  Get fully approved, know exactly how much you want to spend.  Next step is location - what's available in your price range. 
Happy house hunting 
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December 29 2008
Hello!

I am a Realtor and I specialize in Bank Owned Homes/Foreclosures.  I would be happy to work with you and share my knowledge with you.  I have over 15 years in the business and I can guide you thru the process.

Please visit my website:  www.getabankownedhome.com

You may also call me directly for questions or to schedule an appointment.  951-225-2795

Stephanie Wilson
Oaktree Realty Group
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January 03
Profile picture for nwofse
Contributions: 2
Thank you for your responses. It looks like I will need to research thissome more before I go ahead with a purchase. Are there any good books I should be reading that would help me get started?
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January 04
 

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