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  • Where to Find Bankruptcies

    There are many places you can look to find bankruptcies.  You can get a large list of foreclosures on the Housing and Urban Development (HUD) web site.  This association lists many foreclosures.  The listing includes how many bedrooms and bathrooms the property has. It also gives a general description of remax properties college station.  You will be able to see the address.  In some cases there is even a picture of the property.  You will find the asking price of the property in these listings.

    Another great place to find bankruptcies is the Federal Housing Administration (FHA).  The FHA has many foreclosures listed on their web site as well.  As a matter of fact when you log on to this web site you can find any properties being offered by the U.S. government.  The listings include how long the properties have been on the market  and if the price has been reduced.

    The prices of these remax properties college station is not cut in stone.  These organizations are not in the real estate business.  They do not want to keep these properties because it costs money to allow them to sit vacant.  There is insurance to pay and taxes to maintain.  This is something their budget does not allow for very much.  There are so many bankruptcies being listed it is impossible to keep up with the growing list.  The agencies are usually willing to make a deal with the potential buyer.

    As an investor it is beneficial to find bankruptcies rather than buy homes for sale college station  listed in the conventional way.  You can find properties being offered at far below the market value.  Sometimes you can find homes which can be purchased for only $500.  There are not many out there like this but if you look hard enough you can find them.

    You can also look in the paper to find bankruptcies. This means finding the local sheriff’s sales listing.  This is usually in the local newspaper.  At present, there are generally several pages of these listings.  The real estate crisis which has hit some parts of the country is generating many foreclosures.  This means big money for many investors.  These real estate guru’s will go in and buy properties they know will generate a good return.  It is not hard to make your money work for you when finding bankruptcies.

    There will be times when the banks have many Real Estate Owned (REO) properties.  Again, this is not good for the finance companies.  They too have taxes and insurance which must be paid on the properties.  They can only afford to keep these properties a short time.  It is best to deal with the lender directly if at all possible.  Sometimes there is a certified real estate college station agent  the lender uses to list the properties on the open market.  When you decide to buy one of these properties you can do some rather creative things when it comes to the financing.  In one case that I know of, the buyer asked the finance company to fore go the 10% down and pay for all the closing costs.  The lender actually dropped the price by 10% and paid for everything but the appraisal. The buyer only had to come up with $300 out of pocket expenses to pay for an appraisal.  The equity in the property at the time of sale was almost $35,000.  The buyer had got the property at almost 50% of the appraised value.

    These sorts of deals can be had by the new investor as well as the seasoned buyer. All you need to know is where to find bankruptcies.  Once you know how to locate them, the financing is basic loan approval.  In some cases you can even find homes which you can pay cash for just by offering a little less.

     

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