How To Go About Buying A Foreclosure House

Why buy a foreclosed home? For the most part, consumers are interested in buying foreclosed homes — also known as "bank owned" or "reo (real estate owned) homes" — for the potential to get good.

I am looking for a house and just joined www.foreclosure.com and I am a bit confused on how to go about buying a Bankruptcy house. I get the foreclosure cause it has the price and also the realtors phone number.

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By Peter Miller. Sales of distressed homes usually come in several forms. First, there are short sales or pre-foreclosures, deals where an owner who can no longer afford the property tries to work out a purchase with a buyer, subject to the approval of the lender.If that doesn’t work, the lender may start foreclosure proceedings, and the home may be put up for sale at a public auction.

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How to buy a foreclosed home. It can be an exciting and sometimes overwhelming process to find and purchase a home. You want to ensure the home you purchase is right for you and that you have a seasoned real estate agent to help guide you through the process.

Buying a foreclosure is no ordinary home purchase, so you’ll want to work with an extraordinary agent. Find a real estate agent who has experience with foreclosure purchases. As you’ll learn below, everything from the timeline to what to expect from the seller is different with foreclosures, and the more experience your agent has with them, the better advice they can give along the way.

 · I found a house I would like to buy before its foreclosure auction is in two months. I found out the names and contact info for the people who had owned. How would I go about trying to buy it.