Regarding foreclosure homes.?

Question: I have been looking at list of homes in foreclosure, and seeing prices at 10,000 dollars. My question is at the end of a sale, what can that final amount add up to. What is added to that loan balance of 10,000?

Answer:
There are no unusual fees for buying a foreclosed home. It is just like buying an average home. There are realtors who represent one or both sides, there are closing costs, and everything is negotiable. I would definitely not pay asking price in this market for a foreclosure.

One thing you need to expect is work. Often foreclosure homes are left in disrepair - as the previous owners realized they couldn't keep it, they often stop taking care of it. And expect trash - often times they are evicted and leave trash behind. Altogether, if you go in expecting to have to spend at least $15K for clean up and repairs, you have a good starting point.

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Gosh, it depends on where you are and how those sales are structured. Without knowing more it is impossible to say. You could have to add:

++tax prorations
++title fees
++brokerage fees
++mortgage fees

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