| Many of the "great deals" available in housing today
are foreclosed properties. The basic categories of available properties are:
Private Ownership - Most Sellers are trying
to sell their houses for " Retail" or Top-of-the-Market. Unless... they are
trying to market their property in pre-foreclosure status (which is
allowed by local real estate laws). These transactions are called "Short Sales"
and your purchased property is ikely to be in livable condition at the time of
your purchase.
Bank Owned - These houses are vacant, often
abused during the owners departure and sometimes have been striped of items like
the water heater, furnace, light fixtures or cabinets. These properties
Government Owned - HUD, Fannie Mae or Freddie
Mac had Guaranteed the Loans to the former owners and now are for sale by the
agency.
All Properties For Sale are Listed with the Local
Real Estate Board and are available through Licensed Realtors Like:
RE/Max First.
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