Helpful Foreclosure Hunting Tips

Foreclosure Buyers need to know:

  • The difference between a foreclosure and a short sale
  • You can get a great deal on a house
  • Be prepared for surprises
  • Paperwork will be different and is VERY time sensitive
  • Many times, only conventional or cash will be permitted for financing
  • For the best results, work with an agent who understands foreclosures

 

fore·clo·sure/fôr-klo-ZHur/ noun

  • 1. the process of taking possession of a mortgaged property as a result of the mortgagor's failure to keep up mortgage payments