Quick question

2 Replies

I want to buy a foreclosure house 3 bed 2 bath, asking price is $50000. It says the owner could not meet up with payment after grace period. My questions are : I am willing to buy the house with cash, outright but I am confused. Is the $50000 the final price of the house or there is still more to pay apart from the closing and maybe repairs. I hope after paying the $50000 there won't be any more mortgage payments on the house. I have been seeing these kinds of offers everywhere Please enlighten me

Hello Adedamola,

I would call a local title company and ask them to do a soft title search on the property you are interested in buying. The tile company will know it's there's any outstanding liens, judgments ect, ect.

Angel Casa Thank you so much Is it advisable to buy a foreclosure house that is still on mortgage and then rent it out to Make money. How many years old house would you advice to buy if I intend to buy an old house I want to save to start buying a foreclosure homes then renovate or do some Minor repairs and then rent out to make money. Is this a good idea. I am new to real estate business

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