If you’re thinking of buying a foreclosure, your main reason is obviously that you’re going to get a really low price. But is it a good deal? Maybe. Before you jump in feet first, though, there are a few things you’ll need to think about. First and foremost, there are almost certain to be issues with the property. If there’s nothing you can’t live with in that regard, there could still be difficulties with the purchase.
Right now, in some areas of the Country, you can buy a house for a dollar. But would you want to? Some issues with foreclosure properties can be extreme, others not so much. Here are some things you’ll need to consider:
- Poor Maintenance: The former owners were unable to pay their mortgage, so the likelihood