Is it to much problem to buy a house from a wholesaler or a foreclosure without been robbed.?
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Answer:
Yes, you'll get in a lot of problems, if your do not know much about it. But there's a simple solution: get yourself an agent. You do not have to pay to a real estate agent, when you are a buyer.
Tell the agent what you want and let him or her do the work.
I just cannot understand why would anybody buy real estate without an agent! It doesn't cost you anything and you have a professional to help you.
yes, you can do it I bought a house that was foreclose put a little work into her and she really shines now and I got it for a steal the neighborhood was great and the price was way below all the other house in this area. because it need a little work so look around ask some Realtors for help and call a few banks in the area you want to live in and you can find one
I don't think getting "robbed" is an issue as long as you do your homework.
Investigate the neighborhood and condition of the house and compare it to other recent sales nearby. That will give you an indication of value.
The banks who own properties are not looking to rip you off, they are looking to offload homes they never intended to own.
Just make sure you know what you are buying and can afford the payments and any maintenance.
Work with an experienced real estate agent who can help you with the research. I'm sure you have a friend who has a friend who has a friend...
Referrals are best!
Sandra - You can buy and not be 'robbed'. You need to educate yourself as to what you are doing. Buying from a wholesaler is different than buying a foreclosure directly. See the articles below for info on buying foreclosures and REO property.
Are you buying to live or buying to invest? Do you know the wholesaler who is selling? How experienced are they? If you buy their deal you have to live with the deal they agreed. It might not be the right deal for you.
If you lack experience get a lawyer to review the documents. Best if you pick a lawyer that other investors use so the lawyer is used to looking at investment deals. Not all lawyers are up to speed on real estate details when dealing with creative finance and real estate investing.
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