How To Buy Foreclosured Property

How To Buy Foreclosured Property

Steps

1. Read local newspapers for announcements of "foreclosures", usually in the "public notice" section.
   
2. Research online information through search engines. Take advantage of any "free trials" from the super-hype companies.
   
3. Phone any government information phone numbers, like the "211" systems available in most towns. Tell the operators what you are looking for and ask how to find out more. Follow up with their recommendations.
   
4. Locate several properties, find out how they will be resold: auction, bids, and the procedure for inspection/ bidding. ie money orders or cash only.
   
5. Look for Government auctions online.

Tips

To locate property, drive around and look for clues of neglect, like overgrown lawns, windows open or closed all the time. Mail piling up may or may not be a sign since it may be owner-occupied.

Be aware of houses listed for sale for a long period of time.

There may or may not be signs on the property about action being taken, after any "for sale" signs are removed.


Warnings

Pre purchase inspections are not always allowed. Some are "buyer beware". Remember that the previous owner(s) may have trashed the property, knowing it was going into foreclosure.

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Colorado Springs is one of the best places to live in the United States. Colorado Springs real estate is a booming market with a wide range of Colorado Springs new homes or foreclosed home to choose from. People all over the country come looking for some great homes for sale in Colorado Springs. A little help form a reputer Colorado Springs REALTOR can go a long way while searching for homes and if you have any questions about Colorado Springs commercial real estate please contact Mike Stuard.