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how to buy a foreclosures home

  • April 15 2013 - Brentwood
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Answers (3)

Profile picture for Dunes ..
Depends on what you are calling a foreclosure...

If you mean Bank-owned/REO then you may be interested to know many Banks have created Sites so the public can browse their Properties for Sale, find info on programs/loans and the process they use..
Sites Like..Bank of America...Wells Fargo

You can find links to Bank sites here...Link

The Gov has done the same for their Properties for Sale
The Fed Gov has Sites for its Properties for sale
HUD Homes...HomePath (Fannie Mae)..HomeSteps (Freddie Mac)

You can find the links to all the Gov sites here...Link



Or perhaps you mean: California - Foreclosures and Tax Lien Sales

Either way...Good Hunting
  • April 15 2013
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Find an experienced agent to represent you! The owner (if the foreclosure was completed is the proud lender or the mortgage insurer) is able to entertain offers for the property. Each bank will have their own contract and procedures regarding offers from owner occupants and investors, allowable repairs and how they will respond to offers submitted. Navigating the foreclosure and short sale market requires an experienced agent trained in dealing with the details of these transactions to help you achieve what YOU want!  
Each transaction is different and requires a professional that can advise you in each situation.
The National Association of Realtors  offers a certification in the area of of foreclosures and short sales. SFR  ( Short Sale Foreclosure Resource) after the agents name will indicate the completion of education requirements that will help you with a successful purchase.
  • April 15 2013
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Pretty much like any other asset on the market...what is your specific question, in particular?  
  • April 15 2013
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