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Which offers a better deal?

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I'm a first time buyer. Which offers a better deal? A home that's in pre-foreclosure or a home already foreclosed on?

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July 04 - Kingsland

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FinancialResources
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No definitive answer. Each would be case by case. A home in pre-foreclosure may qualify for a short sale, which would avoid a great deal of costs to the bank.

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July 04

Michael Emery, "MikeEmery"
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If it's a decent house, the price might drop after foreclosure but get bid back up again by multiple offers.

If the house is a real dump, chances are it's going to drop quite a bit but who wants to buy a dump?

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jebarnes7
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Sorry about that...this is my first home buying experience & I'm in the 'learning mode'. I saw a home that's listed as 'pre-foreclosure/shortsale'. The current price is $128K. So I guess my question is...does the price drop after a home has gone through foreclosure? If so, how much?

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There is no possible way to answer this question as it is asked and with no information.

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