Foreclosure Rights

foreclosed homesYou probably believe it’s hard to buy a foreclosed property, but it’s not. An overpriced property will generally get little interest and may sit on the market for a year or more. Some agents may have worked deals on foreclosed home with the bank on previous deals and could have insight into what will be coming on the market, not just what is already there.

It disposes of these properties through a traditional real estate agent, an on-line auction or by conveying (transferring) the property to the original investor (who would then employ their own method of disposition). For example, a good property in an up-and-coming neighborhood will be purchased quickly – usually by a real estate investor or an eager person looking for a new house.

Other sellers can either lower their asking prices to compete more effectively with the foreclosures, or wait out the wave of local foreclosures …