Is buying a foreclosure home really as cheap as the prices listed?? If it is so cheap why are foreclosre home
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Answer:
You can find some deals but never as good as they say. If there are some super cheap, you can bet your gonna have to put some sweat in it;)
I believe that
#1. If it's too good to be true---it probably isn't.
#2. Why would the "experts" who profess the foreclosure opportunity want to even reveal it to the free world if it were such a bonanza in the first place. wouldn't it make more sense to keep it a secret if one was to make tons of money off it ?
Sometimes there are liens on the property or very substantial defects that make it undesirable. There are also a lot of professional sharks who do nothing but deal in forclosure properties. You can bet these "good ole boys" have the inside track on any of the profitable properties, so whatever is leftover probably will not make you a quick buck.
This market isn't the one to try and flip in right now. Interest rates are going up and the market is stagnant. You could find a decent deal, but you might not be able to resell it right away or sell it to realize a profit.
In Texas right now, the least expensive HUD house is $9,200. The most expensive is $235,000.
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