Profile picture for lynndowski

I have heard on foreclosed homes you have to pay cash, is this true?

  • September 08 2009 - Warren
  • 0Yes

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Answers (5)

Profile picture for RobertPavelka
are you kidding
  • April 01 2011
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No, this is not true!
  • March 30 2011
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Profile picture for blue screen exile
Not another "answer" for a question posted 1.5 years ago?!

Is that how long it takes Realtors® in that area to reply to inquiries?

And didn't the answer from 1.5 years ago from a person that is not a Realtor® address it better, making the clear distinction between a Foreclosure auction and an REO sale, which seems to have actually been the question?
  • March 29 2011
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It usually depends on the condition of the property as well. Some foreclosure's may not be habitable - No Heat or Running water if the Furnace is missing or the Plumbing system is gone. Your Realtor should be able to tell you whether you can finance a property or not, there are also rehab loans available for homes that need work

  • March 29 2011
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Profile picture for BMFPitt
If you're buying at a courthouse auction, you'll generally have to pay cash.  If you're buying an REO (after the bank has taken it back at the auction) then you can finance it.
  • September 08 2009
  • 2Yes

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