Most if not all of these type of sale properties are fully out of the sellers hands and controlled, managed and sold by the lenders.
Many of these bad loans are sold and resold again to different financial entities so the name of the selling institution may change over time, sometimes it could change in the midst of a purchase.
These properties are almost exclusively sold “as is”, in many cases the utilities are shut off, the homes could be boarded up, and some are also subject to vandalism.
The HUD properties, which are foreclosed loans specifically on FHA and VA loans, are sold thru a bidding process on the computer.
Yes, you can get a property very cheap, but please consult with your Realtor, or call us to really put a pencil on all of the hidden costs and dangers lurking with these properties. If you are looking for a primary home for you and your loved ones, these units may be a bit to much to tackle.
Please call to discuss….#609-876-5890…Pete