Buying Foreclosed Homes

There are a lot of differences between a foreclosure and a non-foreclosure home. Purchasing a short sale property is in most regards the same as a traditional purchase, but the language in the contracts will differ, specifying that the terms are subject to the lender’s approval. In a sweeping lawsuit, Cincinnati took aim at one of the nation’s largest sellers of foreclosed homes, Harbour Portfolio Advisors, saying that the firm owes more than $360,000 in unpaid fines, fees and violation notices. The requirements for buying foreclosed Texas homes vary per sale, so find out what you need before you attend.

If you’re buying a short sale you’ll be waiting on all parties with an interest in the home – including the current owners, the primary lender, and any lienholders – to approve your bid. In the present scenario when property prices are touching the sky, the cheap rates of these …