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Question: Foreclosure homes are cheap at they said???

Hi, I was looking at yahoo for some houses in my state, so I found some information about REO homes, but for example, there are many prices, are prices listed there from $3,000 to 3,000,000 so, cause I don't know how this works, I wonder if a REO home said that the price is $5,000, that is the real sale price?? that is the only price that I need to pay for the house??? or there is the basic price or what??? Do I need to pay something else (besides insurance and taxes????) I 'm very confused.

Thanks.

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Answer: First of all if you are looking at HUD homes (foreclosed FHA homes) you can only buy them threw a Realtor. HUD does not sell homes directly to the public.

Now for a little education on Foreclosures. Before they go for sale on the open market they have to be sold at a local Sheriff sale. This is the process the mortgage company takes possession of the home for non payment. The really good deals usually don't make it past the sheriff sales. Remember, just because something is really cheep does not mean it is a good deal. Location, Location, Location makes a good deal if the price is right.

I can make this really easy for you. Get yourself a Realtor that you are comfortable with and stick with them. They are educated, licensed and insured to assist you and they are absolutely free to you. A good Realtor can answer or get the answer to any of your questions. Just remember not to get on realtors black list by jumping from one to the other. They only get paid when you go to a closing and the word gets out when you work with more than one realtor at a time.

If you would like a referral free of charge to a good Realtor in your area please feel free to contact me.

You could also go to Realtor.com and take your chances of finding one on your own.

Good luck,

TAX FORECLOSURE Homes List

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Tax Foreclosure Homes

Question: is it true that you can buy a goverment tax foreclosure home for less then $1.000 ?

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Answer: Absolutely. Then you get to clean it up so you're not in violation of dozens of laws. Then you have to demolish the home before it collapses on someone and kills them.

Oops, there's abestos?! You need a professional remediator to remove that.

Then you have to build on it. Then you have a $45,000 home that you paid $75,000 for in a location nobody would want to live in.

But someone will be on television saying "Your Name bought this (shows picture) for just $1." Yeah, this nightmare.

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Tax Foreclosures Homes

Question: Where can I find a list of free and clear Government Tax Foreclosure Homes for sale?

So I was watching this infomercial on t.v. about how there are government tax foreclosure homes for sale for very cheap prices that I couldn't even believe they were true. Is this kind of business legit and if so where can I get started to start looking for a list of these homes that are available for buy. I kind of did a search on my own but most of these sites ask you to register with them to view pictures of the properties and so fort. Is there any sites or anywhere where I can get a free list or where I can begin getting more information on how all this process works?

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Answer: There is nothing free. Each county advertises their own. I have attended a few of the auctions. Property goes cheap but never at the almost free amounts the infomercials suggest.

foreclosures: how to buy bank homes for sale and tax homes