If you are house hunting, you may want to consider buying a foreclosed home, also called a real estate owned (REO) property. An REO property is owned by the lender as a result of the previous owner defaulting on the loan. This is also known as a foreclosure property or a bank-owned property.
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Buying a foreclosed home can be profitable for investors whether they plan to rent the houses or fix and flip the properties. Similarly, foreclosed houses can have unexpected expenses, be purchased at inflated auction prices, and be much harder to find.
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When most people buy homes, they browse through home listings, use a realtor to find the perfect fit, and prepare their finances for a down payment and closing costs. Buying a foreclosed home is a.
How to Buy a Foreclosed Home with No Money Down | Get. – Buying a Foreclosure With No Money Down. Are you interested in buying a foreclosed home, but don’t have any money to put down?While this may sound like a deal breaker, you don’t want to give up on your dream just yet. With the right approach, you may be able to realize your dream of buying a foreclosure despite your financial situation.
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