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| Considerations with Bank Foreclosures for Sale |
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| Written by Julie Thompson |
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Another thing to consider is the condition of the home. Find out by getting an appraisal done on the property or getting your eyes on an appraisal that has been done in the last six months on bank foreclosures for sale to find out if there is any serious damage to the home. Minor wear and tear should be expected but you shouldn’t have to repair the foundation or termite damage. Always look at the price of foreclosures and be sure they are priced fairly. Compare them to other homes selling in the local area and to home sales that have sold in the past six months. If the bank foreclosures for sale are higher than the market value and other homes on the market that are not foreclosures then this should raise a flag. You should at least negotiate far below market value and you should find out why the house is not priced as a foreclosure. Julie Thompson |
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