Foreclosures versus Pre-foreclosure - Which one Can Make you Richer?
Pre-foreclosures properties are homes that are about to go into foreclosure. Some of the best real estate deals are made this way, before they hit the mainstream foreclosure market. Negotiations are usually with the owner directly, who would like to work out a deal before the bank forces them to leave the property.
The market for pre-foreclosures is reaching record levels namely because of the current sub-prime real estate issues and weakening economy. Real estate experts will tell you that investing in pre-foreclosure homes is one of the most prosperous ways to play real estate, and that the timing for great opportunities could not be better then it is now.
Depending on your situation buying a pre-foreclosure home can be an improved method of acquiring property rather then buying at an auction. Auctions more often then not require that you have the necessary cash on hand in order to bid. When buying pre-foreclosure homes, however, you don?t necessarily have to have cash on hand.
The main advantage of a pre-foreclosure is you get to meet the people who's house your interested in acquiring in a less anxious environment then at an auction. With an auction homeowners will usually remain anonymous.
One of the biggest advantages of purchasing a pre-foreclosure over an auction is that you can inspect the property before it goes into auction. At this point the property owner is still living in the home so obviously you want to call on them and take a look around the house to see what kind of condition it is in. If the owner feels you make be able to help them, they may disclose if there are any internal problems with the house (i.e. water damage, electrical issues, etc.). Also if the owner is co-operative and you have enough time it would be advised to get a property inspection done as well.
This allows you to determine how much effort, if any, will be required to repair the house and at what cost. This will eliminate much of the risk and will help you make a better decision about if the property would be a good investment or not.
Hopefully this article articulated some of the advantages that buying pre-foreclosures is a good alternative. All real estate professionals consider this method as one of your best value options when it comes to purchasing a home - 23210
The market for pre-foreclosures is reaching record levels namely because of the current sub-prime real estate issues and weakening economy. Real estate experts will tell you that investing in pre-foreclosure homes is one of the most prosperous ways to play real estate, and that the timing for great opportunities could not be better then it is now.
Depending on your situation buying a pre-foreclosure home can be an improved method of acquiring property rather then buying at an auction. Auctions more often then not require that you have the necessary cash on hand in order to bid. When buying pre-foreclosure homes, however, you don?t necessarily have to have cash on hand.
The main advantage of a pre-foreclosure is you get to meet the people who's house your interested in acquiring in a less anxious environment then at an auction. With an auction homeowners will usually remain anonymous.
One of the biggest advantages of purchasing a pre-foreclosure over an auction is that you can inspect the property before it goes into auction. At this point the property owner is still living in the home so obviously you want to call on them and take a look around the house to see what kind of condition it is in. If the owner feels you make be able to help them, they may disclose if there are any internal problems with the house (i.e. water damage, electrical issues, etc.). Also if the owner is co-operative and you have enough time it would be advised to get a property inspection done as well.
This allows you to determine how much effort, if any, will be required to repair the house and at what cost. This will eliminate much of the risk and will help you make a better decision about if the property would be a good investment or not.
Hopefully this article articulated some of the advantages that buying pre-foreclosures is a good alternative. All real estate professionals consider this method as one of your best value options when it comes to purchasing a home - 23210
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To learn more regarding the top government auction & pre-foreclosures web sites check out government auctions reviews or pre-foreclosures.
posted by X - Men @ 3:45 AM
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