Advantages And Disadvantages Of Buying A Foreclosure
You may not like to think about profiting from someone else’s loss, but you can find many homes that have been foreclosed on at bargain basement prices. Looking to buy from proven sellers also more or less ensures that you have a number of options to look into, and the right real estate professionals will also help you find the foreclosed property that best fits your budget, and has the least or no problems for you to contend with.
If they have been paying rent on time (admittedly, it might be hard to get the facts unless you can talk to the prior owner), and have been taking reasonable care of the property, you might decide to keep them and negotiate your own, new rental agreement or lease (after giving the tenants 90 days’ notice).
According to the latest report from RealtyTrac, a company that monitors the trends of foreclosures …