Interested in buying a new home? Foreclosures can offer a great value – if you know what you’re looking for. The home will be sold as-is, so know that you’re likely going to need to do a little work to get it up to snuff. Then, enlist the right people to help you out, including a real estate broker and a lender. With these parties on your side, you’ll be much better equipped to navigate the transaction.
Key Takeaways:
- Interested in buying a foreclosed home? Well, there are definitely cost advantages to doing so.
- However, in order to take advantage of the possible good deals out there, you’ll need to know what you’re doing.
- As such, enlisting an agent and broker as your aides in this endeavor should be a primary step.
“Unless you plan to pay cash, you’ll need a recent preapproval letter from a lender. The letter will detail how much money you can borrow, based on the lender’s assessment of your credit score and income.”
Read more: https://www.dailyrepublic.com/wires/business/5-tips-for-buying-a-foreclosed-home/