Buying A Foreclosure Home

by Kathy from USA

Hi Kate, I am buying a foreclosure home. Is this a good idea? What should I be watching for? Will the bank guarantee the house since the property is bank owned? How do I know I am getting a good deal?


Buying A Foreclosure Home Not A Money Pit

Ask Kate at Get-Your-Best-Mortgage-Rate.com
Dear Kathy, Buying a bank owned home can be a great deal. But you need to apply caution. Sadly, these once loved houses are not always in the best shape today.

So my advice is to order an inspection from a licensed home inspector. Without a home inspection, how else can you know if the property will be a dependable long term investment?

Learn here how home inspection can save your future! Otherwise, what appears to be today's good deal might end up as your money pit later down the road.

Find Your Dream House Today

The first step to finding your dream house is to contact a real estate agent and begin forming a dream team of real estate pros who will work on your behalf.

Here's how. Go to Home Buying Dream Team to learn the role of various RE professionals.

A Guide To Oversee Your Home Buying Process

It is also crucial for anyone buying a foreclosure home to have a guide. Someone who will oversee the process. That person is a real estate agent.

Look for a Realtor experienced in handling the bumps found during foreclosure transactions. Doesn't it make sense to have a trained professional as your guide when buying a foreclosure home?

After all, buying a foreclosed home might be a once in a lifetime experience for you. So use an agent who works with foreclosures on a daily basis.

You Deserve A Dream Team

For a successful and satisfying experience, whether or not you are buying a bank owned property, every home buyer deserves to be surrounded by professionals. Discover the players to include in your dream team by following the links below to more pages on my website.

Best Wishes,

Ask Kate


PS If you still have questions about buying a foreclosure home, write me at Ask Kate where every question is a good question.

Learn More About Your Dream Team

How to Buy a House Part 1 Meet your real estate agent and save yourself heartache and headache.

How to Buy a House Part 2 Meet your mortgage lender - Expect more than quoting the lowest rate or taking an application.

Check out List of Mortgage Companies, a local lender directory.

How to Get a Mortgage Part 3 Meet your home inspector and avoid buying a money pit.

How to Get a Mortgage Part 4 Meet your real estate appraiser - Does an appraisal assures you of a good deal?

How to Get a Mortgage Part 5 Meet your title insurance companies for coverage resulting in peace of mind.

How to Get a Mortgage Part 6 Meet your homeowners insurance agent because there is more to it than the cheapest quote.

How to Get a Mortgage Part 7 Meet your escrow and closing disclosure form, the guardian of your real estate transactions.

Title, Abstract Services and Escrow Agents, a mortgage service provider directory.

How to Buy a House Questions and Answers II.

How to Buy a House Questions and Answers I.

Home to Get Your Best Mortgage Rate from Buying A Foreclosure Home

Help Spread The Word

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You can also ask Kate about your mortgage at Ask Kate About Buying a House.

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