Question : What is the advantage and disadvantage of buying a foreclosure home?
I live in Dallas, TX. Will you recommend buying a foreclosure home? What is the advantage and disadvantage of buying a foreclosure home?Please help. I’ll pick the best answer later.
- asked by Digital Man
All Answers:
Answer #1
Sadly foreclosures are in abundance.I say sadlybecuase plenty of people suffer when they losetheir homes to forclosure.The biggest disadvantageis they are sold as is.One advantage is theretruly are great deals to be had that will put youin equity the minute you close.
- answered by kclifer
Answer #2
It depends where and who you buy the Foreclosureproperty from. Always close at a title company andwrite your good faith deposit check out to thetile company as well. You really donot know if youare getting a deal or not until you run a titlesearch and get title insurance. A home may looklike it has equity unitl you find a 50,000 taxlien attached to the property. So their are gooddeals if you know how to find them.
- answered by Tmitty
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