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House is a huge purchase, and a thereby a huge risk.
Posted by DER (more from DER) on Sun, 11 Dec 2005 17:50:49
In Reply to: OT - info wanted on buying a foreclosure, Dan in NY, Sun, 11 Dec 2005 11:51:59
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Buying without the title and foreclosure process reviewed by your own attorney? I do not think so. Want to buy a piece of paper, or a lawsuit later? Inspection? Is it likely that the former owners maintained the property well while not being in a position to even make their payments? It varies, but odds are the condition was not kept up to snuff by those who could not keep other areas of their life up to snuff. Do you know the market for this house? You need an appraisal of your own, both of what the house is worth in current condition, if brought up to good repair, and the cost of doing so. You may get a bargain. And, you might buy a giant hole in the ground into which you can pour a lot of money for a very long time. Professionals buy some of these foreclosures, know their risks and costs; there are many professionals will not buy. Given the risks, buying some professional advice from the above experts is protection at relatively low cost.
posted by 72.227.1...
Posts in this Thread:
- OT - info wanted on buying a foreclosure, Dan in NY, Sun, 11 Dec 2005 11:51:59
- BTW, you do not say who is selling since you, DER, Mon, 12 Dec 2005 21:41:38
- Doubt all that info was NY procedure abt the title, DER, Mon, 12 Dec 2005 21:27:13
- Thanks {was OT - info wanted on buying a foreclosure}, Dan in NY, Mon, 12 Dec 2005 06:00:45
- go to the assessors office in the county in which the.., baggsly
, Sun, 11 Dec 2005 19:56:37 - Re: OT - info wanted on buying a foreclosure, Rafe, Sun, 11 Dec 2005 19:45:35
- House is a huge purchase, and a thereby a huge risk., DER, Sun, 11 Dec 2005 17:50:49 <-- Viewing This Message
- Just go to the bank..., BillZ, Sun, 11 Dec 2005 12:39:30
- Re: OT - info wanted on buying a foreclosure, GM, Sun, 11 Dec 2005 12:08:57
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