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What You Need to Know About Investing in Foreclosed Real Estate

foreclosure

With nearly 1.5 million properties foreclosed in the first quarter of 2013, many investors are seeing foreclosed property as a bargain investment, planning to profit from the appreciation. However, investment in foreclosures has its own pitfalls that investors should be aware of. Distressed properties are pushing home costs down to nearly 35% of their worth in some areas of the country, making this an alluring option for investors everywhere. In fact, the latest statistics show that there’s been nearly a 60% jump in pre-foreclosure inventory. Prepare to Take Your Time Purchasing a foreclosed property is an arduous process that can take several months. In rare cases, complications with the bank can also make it difficult to eventually get your handles on the title. While it’s no secret that foreclosed properties are a great value, purchasing them may not be an equally great experience. Understanding that these purchases will likely take ... Read More »

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