Buying foreclosed house

**James_alex** · 12-14-2010, 10:11 PM

It is always a matter a fact to understand that there are some people who are into buying foreclosed property. But some time it gets very difficult and they must know all the pros and cons. After all it is not that easy to buy foreclosed house.

Would like to know your views and if some points to add in here.

**marykaichini** · 12-15-2010, 11:53 AM

As for me I don't see any problem about buying a foreclosed house as you can have more options than in some other cases.

**realestategirl** · 01-07-2011, 10:35 PM

if you are really into real estate investing, foreclosed homes are the best options for development in sale. It is cheaper than conventional investments and sometimes it is sold in bulk. But I would say Be Careful when buying Foreclosures to newcomers or to those who are looking to buy a property simply because they wanted to have a home. The biggest problem with foreclosed houses it that the lending company or banks that owned them do not bother to check the condition of the house, as a result the houses are oftentimes dirty,
in disarray or worse, have squatters in them.

**flash.investing** · 02-25-2011, 10:21 PM

Good advice realestategirl and I would add that the same should be remembered with auctions. People buying properties at auctions--not the best way to go, I know--are so shocked when they find the property is so much worse than they anticipated.