How Do You Buy A Foreclosed Or Bank Owned Property?
A total of 2.8 million U.S. households received foreclosure filings in 2009, an all-time record, according to the website RealtyTrac. Buyers looking for real estate bargains can often purchase these foreclosed or bank-owned properties for low prices. Buying a foreclosed home, though, isn’t the simplest of processes. You’ll have to find these properties first, and you’ll often have to work with real estate agents who are approved by the U.S. Department of Housing and Urban Development (HUD). But for those with the patience required, there are good bargains to be found in the world of foreclosed properties. Find a real estate agent with experience in foreclosed home sales. You can buy some foreclosed homes on your own, but it’s not an easy process. A real estate agent can help you find foreclosed properties that haven’t yet been listed, and can help you negotiate the best prices for them. You are also required to work with a HUD-approved real estate agent to buy any of the foreclosed pro
