Foreclosed properties, legally known as court-ordered sales, are properties that might have had a complicated past, might not be selling in their most presentable condition, or might be the outcome of the owner’s financial difficulties. This is why many buyers often prefer not to get involved in such deals.
It is important to keep in mind that a court-ordered sale can be the result of all sorts of factors and life circumstances and, more often than not, it is in the owner’s interest that the property sells as high as possible and as fast as possible.
The process of purchasing a foreclosure can be long, confusing, and stressful, but if you work with an agent who has been through the process before and can calmly help you navigate the process, it can be an interesting and wise investment.
Feel free to contact me if you would like to find out more about buying a foreclosed property.