questions to ask when buying a foreclosure

how to find out if a condo is fha approved A condo MUST be in an approved project-and the approval list is short! If you are interested in purchasing a condominium, you may find that your ability to get an FHA loan is extremely limited. In order for the FHA to make a loan in a condominium project, the project itself must first be approved by the FHA.

Buying Foreclosures Questions To Ask A Short Sale Listing agent. 2 years ago. Add Comment. by fritzie. 183 Views. There are many different scenarios of a short sale that a buyer and a seller must be aware of. It is always exciting to get in on a good deal that can save you thousands of dollars.

31 Questions you need to ask before buying a foreclosed property. What are the payment terms? You need to find out what’s the minimum down payment, how long are the payment terms, interest rates, and whether the interest rates are fixed, and the monthly amortization.

4 Questions to Ask Before Buying a Foreclosure. If the house looks bad from the outside, it’s probably worse than you think," Goldstein told The Oklahoman. 4. Is there anything missing? Sometimes former owners remove anything of value from the home, such as built-in light fixtures, bathroom tile, water heaters, air-conditioning units, and hardwoods,

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What Questions to Ask When Buying a Foreclosed Home. Buying a foreclosed home is a highly impersonal experience. You’re not buying the home from the person who lived there, you’re buying it from the bank. They don’t see the home as a warm, inviting place filled with memories. They just see it as an asset. For this reason, there are some important questions to ask when buying a foreclosed home.

says that a short sale hurts a credit score less than a foreclosure, but only if there is no deficiency.) Sometimes a job application will ask if you’ve been through a foreclosure, but they don’t ask.

compare current mortgage rates Because of this, lenders assume a lot more risk and often require a sizable down payment and charge higher interest rates. Interest only mortgage rates are commonly 1% higher than 30-year rates. The Best Time to Get a 30-year Mortgage. The best time to get a 30-year mortgage is when interest rates are low.heloc calculator how much can i borrow Complete Timeline of the Mortgage Process – After you figure out what kind of mortgage you want, determine whether you prefer a fixed or variable APR and calculate how much you can comfortably. [Read: Best Home Equity Loans.].

There are questions that buyers in any market should be asking before they make an offer on a property in foreclosure. Buyers need to be wary of unpaid liens, including mortgage debt, taxes, construction loans, home equity lines of credit, and possibly a second or third mortgage. Any or all of these financial obligations could become your clients’.

Free puget sound foreclosures list, Short Sales – Brought to you by Barrans Realty, the experts in buying bank owned foreclosure s. call us at 253-862-5558, or email us at [email protected] to ask questions or to see any of these homes today.. registration on this site is FREE.

What questions to ask before buying a foreclosed home. – The answer to your question depends on if you are purchasing a pre-foreclosure or a bank owned foreclosure. If this is a bank owned foreclosure then you should have a real estate agent that should be well versed on the purchase of bank.

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