great1 (User)
Junior Boarder
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risks of buying foreclosed properties 7 Months, 1 Week ago
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I'm considering buying a forecosed property. What should I be looking out for or what risks do i have when buying a foreclosed home? Title company will be issuing an abstract, but what else should I be doing?
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Re:risks of buying foreclosed properties 7 Months, 1 Week ago
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Buying foreclosure properties is pretty much complicated. It entails much risk than the usual home buying.
Here is the big pitfall: Hidden liens can be a big problem.
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Re:risks of buying foreclosed properties 7 Months, 1 Week ago
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Buying a foreclosure can present rewards and risks.
In choosing this avenue do your homework before you buy.
Get the latest information on the foreclosed property, especially the hidden liens.
Know the property's fair market value
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Re:risks of buying foreclosed properties 7 Months, 1 Week ago
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Buying foreclosed property offers potential risks.
The biggest risk with a foreclosure is poor physical condition of the property.
The second, the legal dangers are very serious.
The catch: You need to confer with adeptly knowledgeable real estate attorney to mitigate the risks.
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Sumo (User)
Gold Boarder
Posts: 169
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Re:risks of buying foreclosed properties 7 Months, 1 Week ago
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Don't the same disclosures apply to a foreclosed home: water damage, mold, foundation, roof problems, etc.?
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Re:risks of buying foreclosed properties 7 Months ago
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All pertinent information shall be disclosed with the likes as what you have stated.
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