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Buying a Foreclosed Home Isn't Easy in Today's Market
Despite the headlines, buying a foreclosed home is actually harder than ever. Here's why.
 
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Posted 11:12 AM EST June 18, 2009
potentialbuyer SmartMoney Insiders
1 Comments
I made an offer of $.83 on the dollar, which was not accepted. Nor was there a counter. The offer was 80 percent of tax appraisal.Any advice on how to determine what the bank will accept, since there seems to be no communication. The house has been on the market for 6 months.
Posted 2:33 PM EST July 11, 2007
Posted by: eileenpparker
what happerns if the home your looking at is being foreclosed by the mortgage holder and there are federal tax liens? How do you get a clear title?
Posted 10:03 AM EST May 09, 2007
Posted by: debewebe
I have purchased three foreclosed homes in the past month.(one for .42 cents on the dollar)
The most recent bank owned home I acquired for .30 cents on the dollar owed to the bank. I am making a bid for another and hope to pay .40 cents on the dollar. The asking price listed by the broker is $339,000. .40 cents on the owed amount will be $115,000. This property is distressed and will require work to get it up to snuff. But, in the next cycle top I could get my money and then some.(
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