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foreclosure homes???

does anyone know about foreclosure homes? I have many questions and need a straight forward answer not just something to convince me to buy a home, the aactual truth.

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smedina

Asked by smedina at 7:38 PM on Sep. 6, 2009 in Home & Garden

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Answers (7)
  • The foreclosure homes I've seen have been in terrible shape. And the bank will not offset any cost for a house that needs lots of repairs. The bank does not have to disclose anything about the house, so it's important to get an inspection done before buying. But even with the inspection, the bank will not usually lower their price if the house needs something. If the previous owners owed back property taxes, you won't be expected to pay those.
    ap9902

    Answer by ap9902 at 9:54 PM on Sep. 6, 2009

  • I was foreclosed on and left the house in perfect shape....why? because I wanted the bank to get their money back so I wouldn't have to pay.
    The house sold on the sale date for what the bank was asking...it all worked out perfectly.
    The people who trash their house before leaving are insane idiots! who will regret it in the end.
    All I know is you pay what is owed on the house.
    Anonymous

    Answer by Anonymous at 1:20 AM on Sep. 7, 2009

  • Unfortunately anonymous those insane idiots will just declare bankruptcy. Their credit is already destroyed so why not just go for the bankruptcy?
    Anonymous

    Answer by Anonymous at 2:15 AM on Sep. 7, 2009

  • Foreclosure homes can be a good deal. Bidding on a foreclosure is a long and drawn out process. It could take anywhere from weeks to months to hear an answer from them. They rarely negotiate but on the flip side will usually pay closing. Like the other poster said home inspections are a must (foreclosure or not, even new homes need inspections).
    kc932

    Answer by kc932 at 2:19 AM on Sep. 7, 2009

  • Bad Karma. I could never knowingly benefit from someone else's loss.
    Anonymous

    Answer by Anonymous at 9:14 AM on Sep. 7, 2009

  • You can get a good deal on forclosed homes. Many in need of repair. Some people who lose their homes steal things out of it or place holes in walls and let animals crap on the floor. I have purchased a forclosed before pain in the but tto close on and had to invest 7,000 right away on fixes.
    Anonymous

    Answer by Anonymous at 5:21 PM on Sep. 7, 2009

  • Yes some of you are mostly right.Alot of foreclosure homes are in need of repair,because they are so mad that they lost the house that they destroy it.One house that we went to go see that was gorgeous they let all the water of the bathroom leak out from the first floor and went straight threw the kitchen.It is ruined.I put a bid on a foreclosed home and I hired and inspector and all it really needs is new carpet and paint.It is not Karma to buy a foreclosed home.The person could not afford it anymore.It was there fault they did not pay and it is my gain.

    Anonymous

    Answer by Anonymous at 6:56 PM on Sep. 7, 2009

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