To continue my rant on this hot topic on foreclosures here’s Part II explaining why buying foreclosures have higher risk: Foreclosures are sold AS-IS. I tell all my clients that when you buy a foreclosed property you are purchasing it AS-IS, which means the bank who owns the property will not agree to complete repairs or provide any credits in advance. So the tactic of buying a foreclosure and then asking for a HUGE repair credit won’t work. However, the buyer sill has a right... read more
