Social Connection
What are some of the downfalls of buying a house that is from a foreclosure?
December 23rd, 2011 | 
Author: Question by invictus: What are some of the downfalls of buying a house that is from a foreclosure?
I found a nice house on line but it is a foreclosure. What are some of the downfalls of buying one?
Best answer:
Answer by angels_harp_2000
Most people who lose their homes are VERY ANGRY.
Expect them to TRASH the place. Other than that, a house is a house.
Give your answer to this question below!
Popular Posts:
- Stocks Posting Sharp Losses In Early Afternoon Trading – U.S. Commentary
- TIer 5 Unemployment Extension Update 05/15/2010
- How does one qualify to receive the FED-ED unemployment insurance extension in California?
- NCESC Unemployment Benefits – www.ncesc.com « Breaking News
- How can i get money?I am a jobless person and don’t have any source of income with me.?
Tags:
It honestly depends on what your goals are with it. If you plan to live there for a while, then I would say downfalls are not many.
If you are a short term investor, you need to look at the community in general and see how long its taking for the houses to sell, and what the condition is. They say all real estate is local.
WIth one foreclosure, it effects the other prices in the development as well. Thus, in the short run, you will not get appreciation. ALso see how many other houses in the development are foreclosure, because that can have potential consequences.
If that is the only house thats being foreclosed, I dont see whats wrong with it.
Before you ever think of buying a foreclosed property, investigate it physically. The neighborhood, the house itself, etc…….You never know what your getting into until you have seen it for yourself.