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Finance Corner
What you Need to Know When Financing a Foreclosed Property
by Lisa Halpert, Loan Officer, HomeVest Mortgage Corporation
While other investment properties allow a buyer ample occasion
to view the property, inspect the systems and bring in experts
to assess the improvements necessary for habitation, purchasers
of foreclosed properties may have little or no ability to walk
through the building. In addition, when foreclosed properties
are purchased at auction little time is left for reflection
regarding price.
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Excerpts from this article
Greater Risks Mean Greater Returns
...However, once a bid has been accepted and deposit money placed...
* Next 37 17 investors only!
Getting your Papers in Order
...Borrowers should be prepared to have the following list of documents available...
Guidelines for Investors
Below is a chart of things for borrowers to think about when deciding how to finance a foreclosure property...
Where to go from here ...
...The best thing a borrower can do...
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