Owning a house is everybody’s dream. Ownership & foreclosure data comes from public sources and no attempt has been made to validate it. Do not rely solely on this information to support investment decisions, and verify with the lender that the property is in their portfolio and that it is for sale.
Getting prequalified is a process in which a prospective borrower provides financial and other information, such as employment history and funds for a down payment, in order for a lender to determine how much loan the borrower may obtain for the purchase of a home.
Cleveland has found progress in the sliver of common ground between the land bank’s mission and the interest of financial firms, including some that helped fuel the housing crisis through risky loans and later botched paperwork in carrying out foreclosures across the country.
Instead of dealing with motivated individual sellers, anxious to showcase their home by staging it and working closely with their broker, some buyers will encounter an institutionâ€”a bank’s asset management department, where it’s hard to reach and converse with an individual, let alone the same individual each time.
With affordability comes likely need for repairs and improvement, because as mentioned, foreclosed properties are sold as is, where is.â€ With that, it’s sometimes ideal to buy a foreclosed real estate that costs a little less than your available buying budget, to make sure there is some finances left for possible repairs and improvements you may have to undertake.