Arke Stairs
More from EHT:

Buying a Foreclosed House

Q: How would I go about buying a foreclosed house for a remodel?

A: First make sure that you have the resources in place to purchase the property. Get pre-qualified for a loan if you haven’t already and enlist the help of a buyer’s agent if you’re not comfortable contacting the bank or listing agent and negotiating on your own. Determine if this property represents a good bargain or investment opportunity. Compare the list price to the house’s estimated market value. If the list price is lower than the market value, the property could represent a bargain purchase. If the house is listed for sale on the MLS (Multiple Listing Service, www.mls.com), you or your buyer’s agent can simply contact the listing agent. If the home is not listed, you will need to contact the lender that now owns the property to express your interest. The lender’s REO (real estate owned) or asset management department will let you know how you can view the inside of the house and how to submit an offer.

Related Posts

EHT Newsletter

Sign up for the monthly EHT Newsletter including DIY tips, industry updates, trends, and more

Hot Product

The Oak 70.XTRA Spiral Staircase

The Oak 70.XTRA is an adjustable premier series spiral staircase that features solid Oak wooden stair treads and landing to complement and add style to any interior living space. The horizontal balusters and railing design, surrounding the full length of the staircase, is visually unique when compared to the traditional vertical baluster design of most […]

Read More >>