Re: foreclosure?

Posted by njdave on April 22, 2005 at 08:11:19:

In Reply to: foreclosure? posted by colleen on April 21, 2005 at 21:02:51:

Homes that have been thru the foreclosure process, taken back and offered for sale by the (former) lender (available as "REO") are usually sold in an as-is condition. While the Purchaser can and should have the property inspected before making an Offer, there is nothing magical or inherently profitable about buying a "foreclosure".

Sure, keep an eye peeled for REO, but don't overlook FSBO, or a local real estate agent.

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: Homes that have been thru the foreclosure process, taken back and offered for sale by the (former) lender (available as "REO") are usually sold in an as-is condition.  While the Purchaser can and should have the property inspected before making an Offer, there is nothing magical or inherently profitable about buying a "foreclosure".

: Sure, keep an eye peeled for REO, but don't overlook FSBO, or a local real estate agent.


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