5 steps to buying a foreclosure

5 steps to buying a foreclosure



With over 1 million U.S. houses in certain stage of foreclosure, great bargains are all around – if you are aware of separating the wheat from the chaff.

According toDaren Blomquist of RealtyTrac.com, “The No. 1 reason to buy a foreclosure is the potential for a good bargain.” Bank-owned properties, or perhaps homes in which lenders have taken by foreclosure and have offer for sale, often sell for less.

Blomquist says, “Foreclosures might not be for every buyer, but we believe they represent a great opportunity for many buyers.”

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