Buying a property in foreclosure can be a bargain.
Just make sure to get the house inspected for damage first.
The previous owners likely had financial problems and couldn’t afford maintenance.
Owners might’ve neglected the home because they expected to lose it anyway.
Sometimes, angry owners cause damage as revenge toward the bank that initiated the foreclosure.
A foreclosed house may also sit vacant for a long period, meaning it could get infested with pests, robbed or vandalized.
An inspection is important when buying a house, but especially when it comes to foreclosed homes.
If you protect yourself from costly surprises, you might end up buying your dream house for cheap!