- August 16, 2008 at 4:40 am #261848
Do not write off a foreclosure home just because the price is low. You
could miss a great opportunity.
Due to a promotion by my hubby’s job, we had to move to another state
quickly but we did not have tons of money to buy another house but the
area was small and had limited rental housing. I immediately went
searching through the foreclosures. I immediately was drawn to a house
which was built in 2004, almost 1800 sqft, 4br 2.5 bath, walk in
closets, cathedral ceiling, back deck, small front porch, and two floors
for the astounding price of $79,000!!!
My husband did not even want to waste his time looking at the house
because it was priced so low. He thought it must obviously be a wreck on
the inside. He went in kicking and screaming, but he went. He LOVED the
house as did the family and the realtor. The problems with the house
were minimal. We needed a new thermostat and the air unit needed a
repair, the upstairs bathroom had a leak underneath the sink, and the
attic was in need of insulation. We wrote an offer and are now living in
our “new to us” house! Our other house that we own in Georgia is an 1100
sq.ft. home with 4br 1.5 bath and it was built in 1970. That home cost
us $64,900 7 years ago, and it was deal at that time. .
Everyone from the banker, our agent, closing attorney, inspector and
appraiser said we received a great deal on the house. The inspector
thought it was going to be falling in on itself when before he started
his inspection. I have viewed TONS of foreclosures over at least a 13
year span and never thought I would come across such a deal. Due to the
lower cost of our new home, we may keep the other house and rent it out
for rental income making our deal even sweeter! You will never know
until you look because it just might be worth your time.
what I am interested in. I am asking him if it is really true that I
can get a house for $100K or under. I don’t know how to go about
buying foreclosures, I have no idea how it works.
I am hoping that it’s really true that some houses can go that low.
But I don’t understand why. Some foreclosures are very high, and
some are low.
May I send you a PM? I need to learn more about foreclosures.
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