ChrisH
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Buying Foreclosed Homes - 2007/02/11 18:11
I am in the process of looking to buy my first home. I have seen, and heard that foreclosures are an excellent way to get great deals on homes. I'm surprised more people do not do it.
My question is in regards to the prices listed for homes on this site, and the realistic expectation to purchase the homes for those prices.
I've seen homes in areas I am interested in, that are worth $300K, but are listed at $130K on this site. I've even seen homes worth as much as $500-$700K, listed on this website at $1,000. Are these banks, etc., that desperate to get rid of these homes, that they will sale the for that cheap? How realistic is it, to call the bank, or whoever is selling the home, tell them you are interested in a home at 'X' address, that is on foreclosure, for 'X' price, tell them you are ready to buy, and realistically buy it at the price listed?
Thanks.
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