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The Facts about Buying a Foreclosed Home:
What is a foreclosed property?
  • Foreclosure is the process by which a lender or bank repossesses a home from the owner, resulting from the owner failing to make payments on the home loan. Foreclosed homes are often billed as "bank owned homes," as the home has been repossessed by the bank through the foreclosure process.

  • Are foreclosed homes cheaper than normal property listings?
  • Foreclosed homes often sell for less than comparable homes that have not gone through foreclosure. A local real estate professional can guide you on the process of purchasing a foreclosure property in your area.
  • How does purchasing a foreclosed home differ from purchasing a non-foreclosure
  • Foreclosed home purchases generally have longer closing periods and require additional paperwork to release the home from the bank. If homes are priced below market value, multiple offers are generally submitted and purchasing the foreclosure becomes more competitive.

  • How can I view foreclosed homes for sale in my area?
  • Enter your zip code and hit the "Find Foreclosed Homes" button to see listings in your area. Gain access to foreclosed homes for sale in your area.

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    Buckingham Dr
    3BD, 2BA, 1900 SF

    Nouvello Ln
    4BD ,2BA, 2330 SF

    Yellowtail Dr
    3BD, 2BA, 1890 SF

    Oak Dr
    4BD, 3BA, 2258 SF

    Buying a Foreclosed Home

    The sharp downturn in the economy opened the foreclosure floodgates. Homeowners across America were forced out of their homes because of mortgage payments they were unable to make. And the tide has yet to truly turn. Now is an excellent time for home buyers, because the bank-foreclosed home market is suddenly ripe with properties in almost every neighborhood across the country. Getting into a foreclosed home has its own set of issues, but the current foreclosure market pricing far outweighs any potential issues. The economy will eventually turn around, so getting title to a foreclosure property now will likely have increased value in the future.