Thursday 24 May 2012

Foreclosed Properties Not Only For Investors

By Gerrard Rivera


The largest draw for a foreclosed property is the price usually, it is approximately 50% off the marketplace value. This is a great way to get a new home, and you'll more than likely be able to find precisely what you are looking for.

But while you're at it, why not check out foreclosed properties as well? Like the old saying goes, it never ever hurts to look. This is an excellent choice for home owners especially if they are looking to own their very first home.

1. Bidding On Foreclosed Properties

Although famous among investors, there's no factor why you can't bid on a foreclosed home with the intention to live inside it. They have discovered that they could buy foreclosed properties at a rebate, and then sell them back to the public as a method of making a huge income. But only because traders buy a lot of foreclosed properties do not mean that ordinary folks are not able to buy all of them as well. In fact, whether you're a trader or not has no bearing on the process of buying foreclosed properties.

Most of us that would like to buy one of these homes have to follow exactly the same rules. Basically, stock traders don't get preferential treatment.

2. Not Just For Stock traders

Even if you are not a trader, you will still desire to think like one. By doing this you can keep pace with them, and afford yourself a similar opportunity that they have of purchasing a foreclosed property.

When you're trying to keep up with investors you'll want to ensure that you are using similar tools as them. This means getting yourself a major notch list that shows you all of the foreclosed properties in your area. If you're working off the same list as the stock traders, the playing field is completely even.

3. Don't Overlook The Savings

Foreclosure properties are more often than not overlooked totally by homeowners simply because they believe the property might be run-down or in a state of disrepair. While in lots of cases this is true, if you're willing to do a little fixing-up of the property you will be able to make a large profit, and with those fund, put a down payment on an even nicer home. Or, you will be able to purchase a ton of appliances with the fund you save.




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