Foreclosures offer a great opportunity in today’s market. There are a few ways to buy a foreclosure. One way is to go to an auction and pay all cash for a property that has been foreclosed on. This does not come without risks because you can inherit other liens on the property and you won’t have the opportunity to inspect the home. You need to do a lot of research on the subject property before doing this. Perhaps the biggest drawback is that you cannot get financing when purchasing this way.
The other way (and the way I help buyers) is to buy a foreclosure that the bank could not (or has chosen not to) sell at auction. Instead, they sell the property through a Realtor. There are many 100′s of properties for sale this way. I have developed a very user friendly web site to help find them in the Los Angeles area. Perhaps the best thing about buying a home this way is that you can get financing, do inspections and know that you will be getting clear title with no outstanding liens on the property. You will also have a Realtor (hopefully me) watching your back and guiding you through the process.
To search for them, go here: www.toddjoneshomes.com
Feel free to contact me with any questions.
