Upcoming Foreclosures

Real estate foreclosures?

Just wondering if anyone has ever bought a forclosure and how you go about doing it! How much money did you save?? Can anyone with decent credit and a 10% down payment buy foreclosures? Thanks =0)

Public Comments

1. Yes you can. I recommend joining a foreclosure group or a real estate investing group. How to do it can't be filled in here. You can get these properties with less than 10% down by the way but the cash certainly helps.
2. Yes, done it. I recommend Pre-forclosures......if you aren't experienced you'll never get in with the foreclosure crowd. They will just bid you out.
3. depends if you are trying to buy it by yourself or if you have an agent helping you. If you try by yourself you have to do a lot of paperwork and research, if you have an agent do it for you he/she can do the research and paperwork for you(which is something they should be familiar with on a daily basis). Remember purchasing a house and obtaining a loan are two very different things, if you have 10% down the industry standard for your credit score is between 620-660 fico. I have bought one and bought it at 14% below fair market value with no money down(I just payed closing costs)