cash is King in foreclosures

When dealing with bank-owned properties, there's a usual ranking in which buyers' offers get accepted, Generally, they start with cash buyers, then they go to the 20 percent down borrowers, then they go to the FHA people ,those with mortgages approved by the Federal Housing Administration which require a 3.5 percent down payment

There's a proliferation of cash buyers at the entry-level of housing, with some groups buying multiple properties, fixing them up and then renting them.

When buying call a REATOR Happy hunting!

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