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For a Sound Investment why not purchase a Bank Foreclosure

Jul 18, 2008
A bank foreclosure is also known as a real estate foreclosure and it occurs when a borrower is unable to repay their outstanding debt to the bank. The real estate property was put up for collateral for securing the loan and a lien was put upon the property giving the bank legal right to seize that property should there be a default in payment.

In order to preserve their credit rating, a property owner can attempt to sell their home during thepre foreclosure period. A shrewd investor will realise this and could make a killing

Because homeowners do need to sell quickly, a wise investor can take advantage of a very lucrative deal.

If the property was not successfully sold during the pre foreclosure period, the bank will take over the title of the property and repossess the home or other real estate property in question.

Banks do not wish to keep the property for numerous reasons, should a bank foreclosure occur

Banks are not real estate owners, they are moneylenders

Banks in possesion of properties on their books are seen to have made bad decisions regarding lending money to customers who cannot repay

? Banks lose money on the ownership of repossessed homes. They must maintain the buildings, pay taxes and insurance fees. The longer they own the property the more loss they incur.

? The bank will also want to recover the money lost on their bank foreclosure.

Awise investor will search for bank foreclosures and will find suitable properties that match his or her current needs. Because the banks do want to get rid of the foreclosed properties as soon as possible, they will sell the properties and between 20-60% below the current market value of a bank foreclosure. There aremany onlites sites that provide uptodate foreclosure listings on commercial foreclosures, foreclosures homes and also governmet foreclosures. An excellent service is provided for a nominal fee

Any investors looking for a risk free investment could do no better than investing in a bank foreclosure home. there are no liens on the property and any deals are well below the market value. The costs involved in the selling of the property is the only costs that the investor will be interested in.
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