How can I buy a home in foreclosure?
I am currently renting and interested in buying a home that is in foreclosure and being auctioned off. Are there any government/state websites that are legit that will allow me to see the houses available in my state? Should I use a realtor?
Is it a bad or good time to try and get a mortgage?
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Comments
go to a REALTOR….the bank pays them anyway, and they far better negotiating then you are….BE CAREFUL AND ASK FOR REFERENCES from the Realtor to prove he has negotiated at least 5 homes.
If your a first time home buyer..or haven’t owned a home for at least three years…Its the best time….President obama stimulas package includes a refund on your taxes for $8000 for anything purchased between now and dec 1 2009….you must spend 80,000 or more to recieve that amount..example..home price is 50000…5000 refund…60000 …6000 refund…..70000..7000 refund…..your salary at work has to be under 75000 for single person and 150000 for couple…..If you fall into this buy a home its a the best time ever….
Now is a great time to be looking. Just make sure you have a good inspection done. It may look like a bargain, but you never know until you do some research.
Good Luck,
Tom
yes, there are websites where you can see the houses and they are free to use, they are discussed here:
The first thing you need to do is figure out how much money you have to invest. Talk to a mortgage broker and start doing some research. If this is your first home, you can take advantage of the $8,000 tax credit.
There are a lot of foreclosed properties available through a realtor and you can go to an auction. But it sounds like you need the guidance of a realtor. Your realtor will help you through the entire process. Find a realtor that you feel comfortable with and that explains the process for you.