There are so many unfair misgivings involved with foreclosure that I would not recommend that a buyer try to purchase a home through a short sale without the professional help of an experienced person. As someone facing possible foreclosure, that's good for you. By the way, most attorneys and most real estate agents are not experienced in this area. Due diligence in finding someone who can help you is critical to your success. Let me make the point this way: if you find someone who really knows how to help someone purchase a home out of foreclosure, you will be ahead of the crowd of buyers, and you may be the only legitimate buyer as far as the bank is concerned.

During the inspection, a thorough report on the house will be conducted. What the inspector adds into this report will help the real estate investor decide whether the house is worth the asking price, or worth purchasing at all.

People are understandably attentive to the safety of the house. Obviously a house with inspection issues cannot be sold or rented. These types of repairs will include anything that can potentially harm the new owner or tenant. They can be anything from sewer issues, to insect infestation (termites, ants, roaches, etc.), to ceilings that are ready to buckle. Many safety issues can be very costly and totally reduce any profit a real estate investor might stand to bring in.

If you do decide to delay or refuse payments until your house is officially in foreclosure, the bank is afforded the opportunity to sue you for deficiency. Thankfully, the vast majority of banks hardly ever do this in practice because they know that foreclosure victims do not have the money.

More info on your stop foreclosure information search:

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