Buy Or Walk Away? | Part One

Buy Or Walk Away?Per a quick search of real estate comps, an investor can see the potential of a foreclosure deal. Foreclosures can seem like a great bargain, but how do you know if you are getting a great deal? Factors other than the price must be considered to get a good value. In some cases, a foreclosure may be a complete money pit after bringing it back to life is said and done. There are foreclosure deals to be found in every corner of our country.  Be certain you make solid investment choices based on solid information about the property and the location.

The first thing you have to ask yourself is the current status of the home. There may be outstanding tax debts or municipal fees tacked on the price, for example. Outstanding property tax debts can cost more than the property as it stands in some cases. These charges can add up quickly, so be sure when investing in foreclosures to account for any such outstanding fees.

Next time, I want to share another point to think about when considering the foreclosure investment.  I hope today’s post has been helpful. I look forward to sharing with you again.

Sorry, comments are closed for this post.