9 Tips for Buying a Foreclosed Home

You feel you know everything about buying foreclosed properties but there’s always something new to learn (or remind you!). CNN has come up with 9 tips to buying foreclosed home.

If you’re into flipping foreclosed properties, here’s a wise tip:

Don’t expect to profit from a quick sale. Investors who buy intending to do as little as possible to a house, hoping to resell for a profit when the market turns around, may find little profit and a lot of headache. Some cities are cracking down on neglectful property owners, charging penalties that increase over time, and unmaintained homes lose value quickly.

What’s your reason for buying foreclosed home? Do share!

Read Article Here – 9 Tips for Buying a Foreclosed Home

One thought on “9 Tips for Buying a Foreclosed Home

  1. Permalink  ⋅ Reply

    Jay Castillo

    May 2, 2011 at 11:44am

    I buy foreclosed properties for the long term cashflow through rentals or rent-to-own. Those who buy hoping for immediate appreciation of prices so they can sell for a profit are not investors, they are speculators or gamblers. This is very different to buying properties below market value, which is the smart thing to do. As they say, in real estate investing you make money when you buy, not when you sell.

Leave a Reply

Your email will not be published. Name and Email fields are required.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>