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Who cares. Its a business decision. They made a wrong one, you can make the right one.
If you mean the owners and the house itself, as in are they the kind of people who are going to rip the wiring and the copper piping to sell for scrap, then I'd care. Other than that, absolutely not.
I mean that the people seem to have just taken off and nobody knows where they went. How could you be sure that they wouldn't come back and try to trash your house once you bought it? I've heard horror stories of people coming back and breaking into formerly foreclosed houses and breaking stuff and putting dead animals in the dryer, etc.
I mean that the people seem to have just taken off and nobody knows where they went. How could you be sure that they wouldn't come back and try to trash your house once you bought it? I've heard horror stories of people coming back and breaking into formerly foreclosed houses and breaking stuff and putting dead animals in the dryer, etc.
With a forclosure, if they did not destroy the house while they were in it then chances are they are not coming back to do it. With many forclosures since people know it is coming, the owners tend to destroy the house before the bank takes it back. If this was not done prior, I see mininum risk.
Would you buy a bank owned foreclosure if you didn't know what the situation was with the owners?
Do some reading about the whole buying process, at another forum I go to, this comes up fairly regularly. From what I read it is take it or leave it for a lot and a long waiting game. Even though the offer says they have to respond by a certain time, they may not; and are left waiting to know if they even accepted your offer. The one real estate board I go to is on That Home Site.
I watch the market since we were also selling and I can't say that any of the houses around here are selling for less then what one not is selling for. As far as I know all are listed as the owners are trying to get out. I also watch the community paper, some owe more then what a regular listed house is selling for.
Depending on the area, you might not be getting much of a bargain.
I voted no because in my market, I don't see any bargains and wouldn't bother wasting my time to see if I got a house or not.
I would think a lot of foreclosure houses aren't maintained.. so not quite sure if its really a good deal.
We have one by us..assessed at 732K - listed at 539K - in the photos the house looks absolutely beautiful but according to my realtor, the previous owner took everything! Lights, cabinets, fixtures. Another one in a very popular subdivision...listed at 454K - looks like a great deal from the outside but according to those who looked at it, it needs alot of work on the inside! Plus I hear that the banks tend to drag their feet when the do get offers..which is very puzzling! I guess I would do alot of research first! See if you can find out what the deal was...the one I mention 732/539K - the owner is in prison now so I doubt they would come back : )
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