How to Evaluate a Foreclosure
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When going to invest in foreclosure real estate, it is important to know how to evaluate a foreclosure. Get it now with this presentation from ForeclosureDeals.com.
![[Volume 1, Issue 5]
How to
Evaluate a
Foreclosure
Though foreclosures can be really cheap, not all Contents
foreclosures are bargains. Some are overpriced and Introduction ..…………………………...1
some can be in a poor condition. There are stories of
Area……………....………......…………...2
buyers over-capitalizing in terms of purchase price
or repair costs, and sometimes even in terms of both. An Honest Deal………………………….2
When that happens, the chances are good that they
Property Condition…………………...2
could lose their hard-earned money. That’s why it is
important to know how to evaluate a foreclosure Price…………………..………………….....3
before deciding to purchase one.](https://image.slidesharecdn.com/howtoevaluateaforeclosure-110411111535-phpapp01/85/How-to-Evaluate-a-Foreclosure-1-320.jpg)
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How to Evaluate a Foreclosure
- 1. [Volume 1, Issue 5] How to Evaluate a Foreclosure Though foreclosures can be really cheap, not all Contents foreclosures are bargains. Some are overpriced and Introduction ..…………………………...1 some can be in a poor condition. There are stories of Area……………....………......…………...2 buyers over-capitalizing in terms of purchase price or repair costs, and sometimes even in terms of both. An Honest Deal………………………….2 When that happens, the chances are good that they Property Condition…………………...2 could lose their hard-earned money. That’s why it is important to know how to evaluate a foreclosure Price…………………..………………….....3 before deciding to purchase one.
- 2. 2 Area Is it in a good neighborhood? What are recent average prices? Every area has a price ceiling, and nobody is likely to pay more. Make sure that the repair costs added to the purchase price plus a reasonable profit margin all add up to a price within the local range. An Honest Deal Is it an honest deal? This is not as odd a question as it sounds. People have paid deposits to cowboys, sold homes they did not own, failed to declare major deal breakers and a whole lot more besides. Keep your eyes and ears open, and your radar turned on. What’s does that mean? Property Condition For more terms and definitions, check out ForeclosureDeals.com’s glossary page: http://www.foreclosuredeals.com/G Is the Property in Fair Condition? Whether you are buying to flip lossary.php on or occupy, you need to estimate the repair costs that you will probably have to pay for in cash. Do not just check for cosmetic defects; check for signs of infestations, subsidence and roof-sag too.
- 3. 3 Price Foreclosure Deals 12550 Biscayne Blvd, Suite 306 Is the Price Reasonable Overall? Never allow yourself to Miami, FL 33181 FAX: 1-347-402-6620 agree a purchase based on your feelings at the time. By all Contact@foreclosuredeals.com means secure an option, but do return at least twice to look If it’s not a deal, we won’t list it here! more carefully before you finally sign. A good friend is a Find us on the Web: http://www.ForeclosureDeals.com/ useful ally in this regard. There are many potholes on the road to buying a foreclosure. The art of doing this wisely includes a thorough evaluation. If you do complete this process properly, and you can afford the purchase price, you will certainly buy a bargain, getting savings in the purchase and huge profits when prices turn.