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Can any one give me some advices about buying a foreclosure home?

We saw a house that we really like and it is a foreclosure home. It is only been in the market for 3 days. We wanted to offer at the listed price to avoid bidding war. We were told by the bank rep thatthis house is already had 9 offers so far in 3 days. Our offer is on the low end. Does any one know how foreclosure works? Our agent sucks. He doesnt really communicate. I have to be on his tail 4x a day. Any advice?

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aznblond9

Asked by aznblond9 at 11:00 AM on Mar. 20, 2009 in Home & Garden

Level 1 (-25 Credits)
Answers (2)
  • Make sure you get an inspection before you buy it. Since it's a foreclosure, the bank will not fix anything before you close. Buyer Beware ... an inspection is definitely worth the money!
    ap9902

    Answer by ap9902 at 11:09 AM on Mar. 20, 2009

  • Thanks. I will definitely do that for sure.
    aznblond9

    Answer by aznblond9 at 11:45 AM on Mar. 20, 2009

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