Bargains To Be Had – Buying a Foreclosed Home

With thousands of foreclosed homes to choose from on the market, there are many opportunities to find a great home at a bargain price. In fact, RealtyTrac states that bank-owned homes “sold for 40% less than the average price of other homes.” Meanwhile, homes in the foreclosure process, such as short sales, sold “for 21% less than the average home.”

While bargains are certainly to be had in purchasing a foreclosed home, there are some important aspects about foreclosures that you should know first:

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