Find Cheap Foreclosures For Sale

by on General

Yes! You can find cheap foreclosures for sale. Many people will wonder how this is possible especially in the wake of skyrocketing real estate prices. Well! There is a lot of difference between the real estate market and the foreclosure market. In the foreclosed homes market, you can get a good discount while buying a home. The discount more often hovers between 30% and 60%. It is not a rare phenomenon to find a beautiful villa with a personal gym and a neat swimming pool for a price tag of $180,000 in an up-market locality. The market price of the same villa would probably be around $250,000. So you are able to actually save $70,000, which is a lot of money.

You can find different types of bank foreclosures that vary from repo homes to HUD homes, VA homes, fixer-upper homes, homes for single family, handyman specials etc. Handyman specials are in fact sold quite cheap because these homes have some defect or the other. When you see these homes from the outside or see their images in foreclosure listings, you will not be able to make the out the defect. Sometimes the paint coat has got worn off from the inside and sometimes, the water pipes or bathroom fittings have got broken. There are different types of damages that can be in these homes and hence they are sold for even lesser price.

These foreclosures for sale are best for investors. As an investor, you can buy these cheap homes, do the necessary repair and then sell them off for a higher price than the actual market rate. The money that you save in buying handyman specials can be used for the internal repairs. Once they look as good as new, all you have to do is find a good buyer and make your profit.