The Oldest and Most Trusted Real Estate News Magazine

Is it Safe to Buy a Foreclosure?

By

Related article: Want to buy a Foreclosure to live in? The deals are appealing, but read this NY Times article for what the process can REALLY be like…

In this 3-minute video commentary, RealtyTrac Senior Vice President comments on whether now is a good and safe time to buy a short sale, bank-owned property or auction property in light of recent foreclosure-processing problems. (He says 2 of the 3 are probably OK…)

source: RealtyTrac

Are you guys seeing anything unusual out there due to title gaps or other servicer screw-ups?

LEAVE A COMMENT BELOW.

Tags: , , ,

  • http://brucercowan.com Bruce R Cowan

    Very informative, thank you!

    1. Why wouldn’t it be required of lenders or mortgage companies to make sure as a part of RE Law anywhere in this country to provide clear title to the property as an REO, Foreclosed, or Auctioned property?

    In a normal RE transaction a seller is required to provide clear title, correct?
    In a short sale, the lender is required to provide clear title, correct?
    Why are they perhaps exempt from providing clear title in these situations?

  • http://www.commercialfundingunlimited.com John Young

    Great overview of what’s going on in the marketplace and what to watch out for…thanks

  • http://www.HugeProfitWholesaleDeals.com Ryan

    Thanks for the info. I only buy bank REO’s and short sales. I don’t get involved with auctions and such but this is good information to know.

    Ryan
    http://www.HugeProfitWholesaleDeals.com

  • Ed Moseley

    Thanks for the info I buy reo in bulk from the banks ED MOSELEY

Sitemap Madbadcat Graphics