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Six Reasons Why You Should Invest In Foreclosures Now



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By : Karim El Sheikh    99 or more times read
Foreclosed homes may just be the silver lining to the economic crisis that the whole world is still trying to come into grips with after so many years. If it has been your lifetime dream to purchase your own home, you have better chances of turning that into reality by choosing to invest in a foreclosed property instead.


No time for delays

The real estate market may not be booming, but all signs are pointing to growth and recovery. Prices for properties are expected to rise anytime now so do not wait for that to happen. Take advantage of the incredibly cheap rates for short sale homes and buy them while they are still more than reasonably priced.


Increased chances of getting your loan application approved

The key thing to remember here is that foreclosed properties are under the management of banks – the very same institutions that you would be approaching to apply for a home loan. If you choose to purchase one of the foreclosure homes in their list, then they are more likely to look favorably upon your home loan application.

After all, if they lend you the money, they will get it back in return when you buy their foreclosure home. It is a win-win situation for everyone concerned.


Less paperwork to deal with

This is more likely to happen when you choose to apply for a home loan to the same banking company that owns the foreclosure property you have your eye on. In most cases, you will only have to pass a single application process and provide only a single set of paperwork for your loan’s approval.


No reason to haggle

Banks are primarily interested in getting their money back from what they have invested in foreclosure homes. As such, they are less likely to haggle about the price. If you pay them enough to cover their potential loss in the property, then they will rarely be inclined to push you to pay for more. After all, they have many other pressing and more profitable concerns to deal with.


Deposits are OK

Earn the trust of banks by having a deposit or down payment ready on hand. You have to remember that foreclosure homes have become the bank’s property because its original owners were unable to pay off what they owe the bank. If your deposit is more than enough to cover the original owner’s balance, then the bank will certainly be more than happy to give you the keys to the property and resume payment for it in installment.


No commission to deal with

There are some cases where banks may hire a real estate agent to handle foreclosure deals. More often than not, however, you will be dealing directly with a bank when buying home foreclosures. This is a huge benefit since you will not have to pay any kind of commission to a real agent, thus further reducing the price of your future home.

Considering all the benefits above, don’t you think now is the right time indeed to make your move and finally own your dream home before prices go up once more?
Foreclosure.com is the online resource for finding foreclosure properties nationwide. See all the latest foreclosures, preforeclosures, short sales, and auctions in your area.

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