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Old 04-28-2007, 01:41 PM
 
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Just wanted to get an easy access site to look up foreclosures. Also what is the general rule about buying one as far as price goes? Can you ask for considerably less and what is the percentage off the asking price is a bank usually going to let it go?
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Old 04-28-2007, 06:21 PM
 
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I believe in most cases the bank collects bids, so you can go really low, but you may get outbid. That's one of the reasons they don't always end up as great bargains like many think.....however, buying foreclosures in depressed areas and flipping them is a good business. I just met a guy that buys 25k homes in Garland and flips them and makes about 20k each. But they are in really bad areas (he said that people have stole the pipes out of his flips).
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