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Updated over 14 years ago on . Most recent reply

User Stats

742
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757
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David Robertson
  • Flipper/Rehabber
  • Kansas City, MO
757
Votes |
742
Posts

How to avoid closing costs on foreclosure?

David Robertson
  • Flipper/Rehabber
  • Kansas City, MO
Posted

I am currently looking at buying a foreclosure from Wells Fargo as my first investment property with the prospect of flipping the house. Is there a way to avoid dealing with a Realtor and dealing directly with Wells Fargo to purchase the property with cash?

The property I am looking at is approximately $15,000...I would like to offer about $12,000 in cash and avoid closing costs....

I am under the impression that on foreclosures, typically investors have to pay for the closing costs...is this correct?

Any advice on how to approach this? Do I have to use a Realtor to purchase the property or can I just go straight to Wells Fargo and make an offer?

I feel like I could potentially save a couple thousand dollars of unnecessary costs if that is possible....

Thanks for your help!

  • David Robertson
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FlipperForce

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