Many people are exploring the idea of purchasing a foreclosed or bank owned property. They have heard stories of great deals to be had on buying a REO. And while these homes may be obtained at a discounted price they may or may not be a great deal. Usually these homes will require some amount of remodeling. Every now and then you find one that is in move in condition, but more often than not extensive remodeling is required to end up with the home of your dreams. Even if the home looks good on the surface the homeowner who was struggling to make mortgage payments for a time before the home was foreclosed on has probably deferred maintenance on what may be crucial systems in the home. Before you make the decision to buy it is necessary to carefully weigh the hidden costs in order to answer the question “should you buy a fixer upper”.
If you woud like a list of the foreclosures for sale in a particular area, contact me; I would be happy you a list of Charlottesville foreclosures for sale.
This article may provide you with some helpful information.
When you buy a fixer-upper house, you can save a ton of money, or get yourself in a financial fix. Read
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