How to Invest in Real Estate With Little or No Money Down by Irwin Robert & Irwin Robert
Author:Irwin, Robert & Irwin, Robert [Irwin, Robert]
Language: eng
Format: epub
Publisher: McGraw-Hill Education
Published: 2004-07-21T16:00:00+00:00
Consider Foreclosures
Most people have also heard that if you can pick up a property in foreclosure, you stand to make a good profit. There are perils in foreclosures, however. Also, it can be difficult to purchase one without cash. After all, many foreclosure sales are for cash only. Therefore, it’s vital to arrange for financing before looking at foreclosed properties.
There are two occasions when you can buy a property in foreclosure (besides after the bank has foreclosed and it becomes an REO, as described previously). The first is when the property goes into default.
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