Buying a Forclosure
Forclosures Made Easy
Buying a forclosure does not have to be a headache for the buyer. Most banks want to make this process easy for everyone, just remember to come prepared!
1. Always get pre-approved with a lender.
2. Remember the home you choose will liklely be sold "AS IS".
3. Have your realtor and escrow officer check for back taxes, leins, and encrumbrances.
4. A complete signed offer, your lender approval letter, and good faith deposit ready to go!
5. Have money set aside for needed repairs, closing costs, and down payment,
6. Remember that the forclosure process could take longer than a regular home purchase.
