Want to buy a NH Foreclosed property...

Often buyers will ask if they should consider buying a foreclosed property?

They want to know what the risks are?

If they can lose their deposit?

Can they have contingencies in the Purchase Agreement?

Would it be better to buy at the foreclosure auction?

Usually I answer by saying there are some fabulous buys out there in the foreclosed property arena BUT you need to have a stomach of steel and a ton of patience. Nothing happens fast when dealing with a bank owned property....unless of course if they want to foreclose on you, sorry I am being sarcastic here, but it sure does seems true. If you are a homeowner facing a potential foreclosure please read this post on Foreclosure? Don't Go It Alone.

There are many Pitfalls when buying a bank owned home and a huge amount of disconnect and yes incompetent people including real estate agents ,I'm not going to sugar coat it. There are some crappy real estate agents running around.

If you're thinking of buying a foreclosure property then this is an excellent article full of timely and important advice. It was written by Andrew Cadorette, Education Coordinator, New Hampshire Housing Finance Authority and is published on NH Realty Scoops with his permission. As Andy said the more people that read it the better it is.

Read more here >>> The Pitfalls of buying a bank owned home