we want to buy a house thats in foreclosure......help!!!!!!
Posted by Christina on February 24, 2005 at 18:17:34:
My husband and I have found a nice house in a nice quiet neighborhood that we are really interested in buying but the problem is that on the house is a letter saying it is in foreclosure but to contact a local real estate agent for information. We did and they took us to the home (which is empty)and let us look at it....we really liked it and would love to try to get into it. The problem is...we have no idea where to start or what to do. We live in Illinois and this would be our first home so we are new to it all. The problem I'm having is finding any really good information to help us through this. Most of the information I have found seems to be for those who want to invest in foreclosure property. We just want a nice home to live in with our children. This would only be a one time thing for us. So does anyone have any information on where I could get some really helpful information or someone to walk us through this. We are just afraid someone that invests in foreclosures will beat us to the punch. So any helpful information would be greatly appreciated. The real estate agents were no help at all. I would also like to know how the bank goes about pricing the property. And since we would be dealing with a bank...should we just bid whatever price they decide? Thank you for any help you can give.
