There is a lot of great foreclosed property available with a lot of bang for the buck. A lot are listed around $50 per sq ft and under.The paperwork for foreclosures is getting more tedious. The contracts are made of course to be a to protect the banks or the companies owning the foreclosed properties. Paperwork is getting to be a bit much and buyers are going to have to be responsible for turning on the utilities for their inspection too. There are definitely great deals available for any new home owner or investor.
With foreclosed properties banks will not normally pay for surveys or title insurance on foreclosed properties. Sometimes you can get the title insurance paid for if you use the seller’s title company. As for the survey, if you can find an existing survey then you can save about $500.00.