Many home buyers are attracted to foreclosed properties because they can offer great opportunity. But don’t get too excited yet, though foreclosed homes really offer great deals, they also come with challenges. Knowing what you will deal when you decide to buy a foreclosure can prepare you in the process.
There are no disclosures
With a traditional sale, you’ll get disclosures from the sellers. With foreclosures, there’s none. It’s like not knowing what you’re getting into because you will not have any knowledge if the house will need some serious fixing. The bank will not give you the history of the home nor the problems you might encounter when you move in so you have to be prepared.
You can work with your agent on this. Search as much as
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