Traps Foreclosure Buyers Need To Know

Interest in buying foreclosures is on the rise and the statistics show that nearly half of all home sales are distressed properties.

Even though it is hard to argue that these deals are the best pricewise, home buyers need to be aware of possible traps that exist when dealing with foreclosures and bank owned properties.

If you are thinking of buying a foreclosure at auction keep in mind that most likely you will not have an opportunity to see the property inside. Auction buyers usually don’t have the time to ensure they are getting a clear title and possible deficiencies may exist.

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