Buying Foreclosure Auction
January 9th, 2008
Buying Foreclosure Auction
Question: How can I buy a home in foreclosure?
I am currently renting and interested in buying a home that is in foreclosure and being auctioned off. Are there any government/state websites that are legit that will allow me to see the houses available in my state? Should I use a realtor?
Is it a bad or good time to try and get a mortgage?>
Answer: The first thing you need to do is figure out how much money you have to invest. Talk to a mortgage broker and start doing some research. If this is your first home, you can take advantage of the $8,000 tax credit.
There are a lot of foreclosed properties available through a realtor and you can go to an auction. But it sounds like you need the guidance of a realtor. Your realtor will help you through the entire process. Find a realtor that you feel comfortable with and that explains the process for you.
Realty Trac : Buying and Flipping Foreclosures
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