Is foreclosures the best way to find a first home, Iam in construction?

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greenkenny68 asked:


I am in construction in Indianapolis

Tags: Foreclosures, Iam, Indianapolis

December 20th, 2008 |

Tags: Foreclosures, Iam, Indianapolis

3 Responses to “Is foreclosures the best way to find a first home, Iam in construction?”

1. aeseiler2
   December 21st, 2008 at 10:06 pm
   

   It can take awhile to hear back from the bank on a foreclosure. that is why my husband and I chose not to go that route because we were sick of waiting.

   
   
2. crazywibusdriver15
   December 23rd, 2008 at 1:49 pm
   

   It is usually the cheapest way to find a home when they go up for bidding at County Courthouses.

   
   
3. Gitchy gitchy ya ya da da
   December 26th, 2008 at 2:01 pm
   

   You can get more house for the money, but be aware of a couple things.

   Banks usually turn off the utilities for vacant forclosures. That means you cannot have the mechanical systems fully inspected, and the bank will not allow contingencies should anything be wrong.

   Sometimes people get angry enough about a forclosure (even though the bank is well within its legal and moral rights to sieze a home for non-payment) to do malicious damage — kicking holes in walls, taking plumbing and electric fixtures, etc. One that I recently went through looked like someone took a sledgehammer to the kitchen cabinets, just out of spite.

   So yeah, you can get a good deal, just be aware of the downside.