Buying a Fixer-Upper (Dexter, Milbridge, Brownville: bank owned, for sale, foreclosures)

[stephenw]

Where would be a good town or city in Maine to find a nice older Victorian home to fix up that doesn't cost way too much? I mean, it can be a dump, as long as it's a mansion dump.

Know any websites with info like this?

[Submariner]

There are many properties like you describe.

Listed on a website, would be the activity of a realtor, and as such would likely be marketed at twice the price.

I think that your best method would simply be to drive around and look at places. When you see a property [with a for sale sign] that you think you may like, go in and talk to the owner. Hear his story and ask his price. Some are willing to carry a note.

I have found that many folks in Maine prefer to avoid using realtors.

Good luck.

[corgis]

You can also check at town halls to see if any houses have gone into foreclosure for back taxes and reverted to the towns. Lots of times they aren't advertised but towns are willing to sell for the back taxes plus a little more for carrying the house on its books.

[Zymer]

There's a beautiful victorian in New Sweden that you can probably get for under $170k. Most all of the fixing up is already done, including jacking it up and pouring a new foundation, and replacing the sills.

All it needs now is some roof, sofit/facia work.

[bigchuckie]

Some of the old logging towns like MIlo Dover Dexter Brownville would be a good place to start

[msina]

There's one next door to me that someone is in the process of renovating. Try contacting banks for Bank Owned Properties (defaults, forclosures). you can get some great deals at times.

[msina]

It's not a dump at all, but check this out Coldwell Banker Residential Brokerage 6 bedrooms, 3 baths 160,000

[mainebrokerman]

there's a "h.u.d. (housing and urban development) website with listing of forclosures ,,, and its free.(they all say water, or disclosure damage, for liability purposes)
also search for maines' auction companies,,they list housing auctions,,and in the lagal notice section of most newpapers,,it gives public notice of properties going under forclosure and when to bid on them,,

[Elcarim]

How does the financing work on foreclosures? Is it hard to get financing on them?

[mollysmiles]

Stephen....I was driving through Milbridge today and there are two Victorians for sale....one is actually a house I've loved since I was a little girl. They're both listed by a company called Water's Edge Realty....it is a beautiful area of Maine. Good luck!