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Louisville Foreclosure Listings: Where to buy the foreclosures from

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By : John Smith    99 or more times read
People who desire of dwelling in a city of rich cultural heritage can invest their money in Louisville homes. Cheaper homes in Louisville can be found through Louisville foreclosure listings. The museums, theatre, racing events etc make life exciting at Louisville and the growing economy with shipping as the main line of business makes buying Louisville foreclosures worthy!

Foreclosure is advantageous to people who want to buy homes at their budgeted prices. You get your dream house at nearly 50% of the market price with all the facilities. Thus you invest little, but reap great benefits as these are ready made homes cutting down the construction costs and the time involved in acquiring equity of a home. If you are smart enough, with little renovation, you can let out the cheaper foreclosures to the business tycoons and get high monthly rentals.

Foreclosures can be bought at public and government/bank auctions. Before going to the auction, make a personal inspection of the property to check for livability factors of the home and also ensure that you have a basic idea about the fair value of the property so that you can act diligently. Such market prices and comparison prices can be obtained from the online resources. Also it is safe to make sure that the legal documents relating to the foreclosure are verified and that the title is clear. At the auction, you are free to negotiate with the prices. If you are purchasing foreclosures at auctions, take cash and necessary financial papers with you as you need to make 10% down payment immediately after the purchase. If you don’t prefer attending auctions, you can buy the lis pendens foreclosures directly from the owner.

Lis pendens foreclosures are a type of foreclosure where the owner is served a notice period of three months by the bankers or lenders and a law suit is filed against the property for non-payment of mortgages. To avoid the legal proceedings of foreclosure, the owner sells the home at a very discounted price which a prospective home buyer can take to his advantage. The contacts of the home owners can be obtained from the real estate agents whose contact information is published in the websites containing Louisville foreclosure listings.
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