It is always the ambition of home buyers to check into cheap houses available in an excellent neighborhood. For first time home buyers to stay into the housing property permanently and for investors to flip properties bought at low prices with good margins, cheap houses available would be the main target.
Fortunately, the present foreclosure crisis hitting the Real Estate markets in the US has rendered countless 1000s of cheap houses for sale.
Cheap is a comparison in prices, which is dependent upon many factors. A housing property considered cheap in an area, may possibly not be cheap in another prime location. As an example if you intend to obtain a housing property in the most sought-after location like Florida beach side, you must consider buying a property at a high price somewhere around $200,000 as cheap. For exactly the same amount you should buy a palatial Bungalow in a suburban area of Arizona.
So what is required is always to plan your home buying activity well in advance. If you intend to obtain a home for your household to reside, first you’ve to decide about the location. Then make a search for the perfect property to match the requirements of your household – bedrooms; amenities; conveniences nearby; proximity to workplace etc. Foreclosed properties are being sold at prices, which are only a fraction of the real value. There are lots of properties as cheap houses available that’ll suit your needs in most aspects out there, listed in the foreclosure listings of any area.
Buying a foreclosure property has been made easier of late. Cheap Houses San Francisco You have to comprehend there are three stages of foreclosure process – pre-foreclosure stage during the period between Notice of Default issued by the mortgage lender to the defaulted home owner and the particular foreclosure sale by public auction; actual foreclosure stage when the public auction takes places either through the Court by Sheriff Sale or out-of-Court by way of a Trustee Sale; and repossession by Banks and mortgage lenders following the foreclosure sale public auction.
Each stage of foreclosure process offers different varieties of cheap houses for sale. At the pre-foreclosure stage, you should buy cheap houses by negotiating with the distressed home owner directly. It includes the opportunity to trace the title of ownership of the property; to visit the property face-to-face and inspect exactly the same critically; speak with the home owner one-to-one and get the best bargain in the selling price by tactful negotiation. This is the best way to purchase cheap houses available to the whole satisfaction of both the vendor and buyer.
In the particular foreclosure sale public auction, you can bid for the property you’ve identified as suitable, but face competition from others. In case of repossessed properties by Banks, you can approach the concerned Bank to purchase cheap houses available from the listing of properties available with them. These properties is likely to be in good condition to start living there at the same time, without any encumbrances as second mortgage, tax liens, other debts etc. The selling pressure on these properties may be used as leverage for arriving at a negotiated cheap price.Read More