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Louisville foreclosed homes: What are the ways to acquire

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By : John Smith    99 or more times read
Being the hub of transportation, Louisville serves as the prime city of America and for all businessmen, buying a home in Louisville might be the most lucrative option. And for those wanting to buy cheaper homes, Louisville foreclosure homes are the right destination.

Foreclosures are giving real estate sellers a run for their money. This is because of the fact that more and more home buyers are making foreclosures their preference. Given the fact that foreclosures are sold at mere 30 to 50 percent of the open market price, buying a home is made more affordable. And especially for businessmen doing business in and out of Louisville, buying a cheaper readymade and simple home for a temporary stay would make more sense than an expensive villa. Foreclosures fit the bill perfectly in such cases.

Foreclosures can be bought from any of the following entities - government organizations, banks, money lenders, etc. Any foreclosed property find listings in the country office or one can use the comprehensive list that online sources present. While the official government websites provide free foreclosure listings, some websites charge a minimal fee but the amount is worth their service. Since these websites provide every intricate detail right from the no. of rooms in the foreclosure home to the contact information of authorized real estate agents, the process of buying foreclosure is made really simpler.

Foreclosures can be bought directly from the owner through pre foreclosure short sales or through the lis pendens foreclosures. To escape the legal proceedings of the pending suit, the owner sells the home at a highly discounted price and hence buying lis pendens foreclosures are really a very profitable venture for prospective home buyers. One can also buy homes at cheaper prices at a sheriff auction. Sheriff auction is the right place for buyers who do not wish to compromise quality for cost.

Other cheap foreclosures are HUD homes, bankruptcy homes, etc sold at foreclosure auctions at a minimum of 15% of the market price. The very motive of buying foreclosures is to buy homes at cheaper price and so one should be careful as not to get carried away during the auction. The online resources come as a savior of such situations. One can keep checking the market price and review and bid accordingly through online. Such options make buying Louisville foreclosure homes through online portals absolutely wise.
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