Everyone wants to save on real estate. The problem is, many people simply don’t know how, or where to actually find those elusive savings. When you’re buying on the open market, it can be truly difficult to come across unusually good deals. You might be able to win a home with a lower bid through a real estate agent, but if you’re really looking for savings that will create lots of initial savings and maximum potential investment value, you have to consider the market for foreclosure listings. These incredible resources are the homebuyer’s key to finding deals on great homes that can provide savings of as much as 50% off your initial purchase.
A foreclosed home listing is like a guide to a property that is available for purchase through a lender sale. They come about when a homeowner defaults on their home mortgage loan. After a default, the lender will have to sell the home and use the proceeds to cover the remaining debt owed by the homeowner. But the opportunity for buyers to win these homes for discount prices manifests in the sale or auction itself, where lenders often undersell properties. Since they only need to collect an unpaid portion of...
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