| Name:
rose
Title of Question:
how long should we wait? |
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Question: we are looking at a condo that is a forclosure and it was $20,000 below the other properties in the area. we think its a great buy and its our first home but how long SHOULD we wait or EXCPECT to wait? we are very anxious and arent sure if we should wait around to hear back from them or continue our search on something else? |
Post Your Answer To The Question Above:
Name:
Jim
| Date: March 20, 2007, 2:59 pm
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| Answer:
I can't know your situation,
but it can be risky to buy a foreclosure.
A good home inspector (ASHI) is needed. And if there was
a bankruptcy involved, there
could be leins on the property
that the seller won't reveal.
Try to get a General Warranty Deed to protect from claims on
the property from creditors, a former spouse, and others.
If they did receive your contact, avoid renewing it, since it puts them in a stronger position. |
| Name:
ct
| Date: April 6, 2008, 9:29 pm
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| Answer:
I wouldn't worry about leins, just make sure you do a title search and get titel insurence. It's well worth the money. I know about anxioty because I'm in the same boat. |
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