Is it difficult to buy a home @ auction that is in foreclosure?
Is it harder to get financing? Are there specific type of financial institutions that specialize in financing the purchase of foreclosure homes?
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May 1st, 2010 at 7:18 am
it is hard to buy a house foreclosure but not impossible. Main, thing you have to keep in mind the price of the house and the amount owed. Your offer might get accepted depending on how good the listing agent presents it to the asset manager in charge and if they have all the forms required. Financing? depends on your credit.
May 4th, 2010 at 6:44 am
IF YOU ARE AN ATTORNEY, REAL ESTATE PARALEGAL, TITLE COMPANY RESEARCH ANALIST, OR REPO MAN LIKE ME, THEN NO. ALL CASH/CASHIERS CHECKS ARE ONLY ACCEPTED.
IF YOU ASK THIS QUESTION, YOU DON’T HAVE THE EXPERIENCE…. A FACT OF LIFE!
May 4th, 2010 at 7:16 pm
Definitely harder to get financing. Hard money lenders will give money to almost anyone but a steep price, interest or collateral.