When purchasing a foreclosure home at auctions , it is important to know that they are sold “ as is.” That is why it is very important that you choose your future rental investment property with knowledge. The condition of the property can range from wonderful to awful.
Some properties are known as zombie foreclosures. In this case, the borrower has abandoned the property before the foreclosure has been completed. It is important to visit the property if you can, especially if you live locally. Depending on the location of the for of your foreclosed home, you cane register on your county website online, create and an account and begin the bidding process. You will also have the ability to purchase tax liens and tax deeds.
Get to know local auctioneers, brokers, attorneys, repair specialists and appraisers who specialize in foreclosures. If you are a creative investor and looking for legal advise, call Martin Law Group. We help creative investors close real estate deals.