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Old 04-02-2011, 08:23 PM
 
Location: orlando
26 posts, read 161,052 times
Reputation: 26

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This might be a dumb question but when u see foreclosed home/condo's for $9000-17,000 are they for real or is there a catch? I know some might not be good locations but just wondering if its really $9000 or is that just a way to get you looking then the real cost of the house comes up?

Thanks for any info
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Old 04-03-2011, 07:23 AM
 
30 posts, read 50,512 times
Reputation: 14
I two am looking to buy one of these properties. A few things are involved on most of the lower price homes you will have to be cash or hard money buyer. Next the process will be you submitting a bid your agent will recomend a price a little higher for you to have any chance to get it. Next the lower price homes are in very bad areas. Also you will not have much time to make up your mind most of the time they are listed and gone within a week. My personal feeling is if you are going to get one of these this is the time to do it I think we are truly at the bottom. Again my personal feeling based on gut only.
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Old 04-03-2011, 07:27 AM
 
30 posts, read 50,512 times
Reputation: 14
Typo Too not Two. Its early
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Old 04-03-2011, 08:38 AM
 
Location: Asheville, NC
12,626 posts, read 32,065,841 times
Reputation: 5420
Quote:
Originally Posted by tibbigt View Post
This might be a dumb question but when u see foreclosed home/condo's for $9000-17,000 are they for real or is there a catch? I know some might not be good locations but just wondering if its really $9000 or is that just a way to get you looking then the real cost of the house comes up?

Thanks for any info
There are condos all over that are cheap and they aren't all in bad areas. You do need cash up front as most banks won't finance them.
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Old 04-03-2011, 08:20 PM
 
Location: Clermont Fl
1,715 posts, read 4,778,009 times
Reputation: 1246
If you are buying to rent them bad idea to live in maybe a little better one.
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