Investment Quotes

A foreclosed home is a property the lender has repossessed after the owner stopped paying the mortgage, and it usually sells below market value because banks want their money back, not a house.  How far below, and how much risk rides along with the discount, depends almost entirely on one thing most guides gloss over: which of the three stages you buy at. Pre-foreclosure gives you a modest discount with full inspection rights. Auction gives you the deepest discount and the most ways to lose money. Bank-owned (REO) sits in between. This guide walks through all three stages, the honest pros and cons, the financing options that actually work for as-is properties, and a step-by-step process for doing it safely. The three stages of buying a foreclosure Every foreclosure purchase happens at one of three points in the process, and the stage sets your risk before you ever see the house. Stage 1: Pre-foreclosure. The owner has defaulted but still owns the home. You buy directly fro...