Upcoming Foreclosures

Anyone taking advantage of home foreclosures?

I've been hearing advertisments about home foreclosures. Has anyone had a good experience from getting a new home this way?

Public Comments

1. Foreclosures are a great way to get a deal. They may take a bit longer to close than a regular purchase. I would work with a reputable Realtor in your area.
2. I bought a home that had been foreclosed, but it wasn’t at a giant savings. I bought mine from a bank, and paid maybe 10% less than the house is worth. I definitely did not set out to buy this type of home and would never recommend focusing solely on this type of home if I was still searching. Owning banks are trying to recoup as much as possible on a home on which they’ve suffered a loss. They aren’t always looking to quickly cut their losses and run; they might want to sit on a property for months waiting for the buyer willing to pay what they expect. Find a buyer’s agent, tell them what you want, and they’ll show you the houses that meet your criteria. Foreclosure is not synonymous with bargain.