Foreclosures Help Information

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Tax Foreclosure Homes List

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.

What's Wrong with Tax Deed Investing

Property Tax Foreclosure Michigan

Question: When do they have the Property tax sale in michigan?

or foreclosure sale. I live in Detroit

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Answer: 10 a.m.

Insights In Michigan Law Property Tax Foreclosures