Comments on: Theres a foreclosure house for sale? Is this investment opportunity good to go?

By: Crystal

Crystal — Tue, 09 Mar 2010 15:56:59 +0000

Well, first ask her if she can give you a comparable market analysis (CMA) this will tell you what other properties like it are selling for in the area, or even better if it has been appraised recently. Of course you’ll have to get it inspected, at your own cost, to really know what has to be fixed, you never really know, maybe the foundation is bad, the whole roof needs to be replaced, and there is extensive termite damage. Whatever needs to be replaced you should be able to tell if the price of the house And all the repairs makes it worth buying. You sound like you wouldn’t know how much each repair would cost so be careful even if you ask a professional they can tell you don’t know much and will try to rip you off so get at least three estimates for each problem you come across. You can make and LOSE a lot of money in real estate so don’t rush into anything, if this one gets away then maybe it is for the best. Plus, most real estate agents are like car salesmen so don’t trust every word they say, don’t let them rush you or make you feel uncomfortable
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By: ?

Tue, 09 Mar 2010 15:19:59 +0000

Take a quick look through it yourself. If you are unsure of your knowledge of structures and home repair etc, bring along someone who does know about them. Also, take a quick look around the neighborhood. If it needs some serious repair work done or is in a questionable neighborhood, you will want to think about not making the purchase.
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By: Dart Swinger

Dart Swinger — Tue, 09 Mar 2010 14:50:59 +0000

If you are experienced in real estate, look into it. Buying foreclosed properties is not for the novice.
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