Friday, April 24, 2009

So You Want to Buy Foreclosure?

So you want to buy foreclosure? Make sure you know what you are doing, and be ready financially and emotionally. Sure, you may get a bargain, but you are also more likely to spend tens of thousands of repairs.

Disgruntled homeowners who lose their homes through foreclosure and eviction, often time, try to retaliate by damaging the house, or removing and selling fixtures such as cabinets, sinks, water heater and toilet.

Look at these ads in craigslist (craigslist ads expire a week after posted):

Carpet and Pad 250 sq yds New - $900
Have almost 250 square yards of new heavy grade beige carpet and pad.
Bring your box knife and cut yourself a piece, with pad included.

Custom Cherry Kitchen Cabinets!! Hand made! Beautiful! - $4600
These cabinets were taken out of a friends home that was another foreclosure casualty. The cabinets were too new and too expensive to let the bank have them.

GREAT PRICE!!!--- Can be negotiated, if purchased with other items. (Light Fixture, Mirror, Towel Bar, Toilet Paper Holder and other household items)
Can be purchased together or separately. In perfect condition, only 4 years old.

Nice used fridge stove dish washer, foreclosure special
220 for fridge
295 for stove
120 for dish-
and 150 ea for washers

FORECLOSURE SALE-everything must go
I have a multitude of items for sale......refrigerator(2 years old-white) stove,microwave,dishwasher,kitchen cabinets(1 1/2 years old) full mattress set(good condition),hurricane shutters,bookcase,2 dressers,end table etc All reasonable offers considered-must be able to remove also.

Foreclosure Sale - GE Black Profile Kitchen Appliances - $250
House went into FORECLOSURE.... Must sell all my home appliances I purchased with home.. Everything is basically brand new, we only lived in our house for a single year.
We have available a GE Black Profile Series Stovetop/Oven-Range (electric) this will be for sale at $370 or best offer.
Also available is a GE Profile Stainless Steal Stovetop Microwave Oven.

Sometimes it is cheaper for the bank to give a house away than to keep it. The Detroit News reported bank owned house for sale for $1 in Detroit and it cost the bank $10K to unload the house. The $10K was used to pay delinquent taxes, water bill, sales commission and closing cost. The bank finally gave up since every time property manager tried to fix the house, the thief stole something from the house in the next few days. What do you get with $1 house? Pretty much an empty shell, as the thief stole everything from siding, fence, furnace, kitchen sink and even copper plumbing.

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