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  • Metro East REIA

Buying Foreclosures Directly from the Owner

There are some important things to consider today when making an offer to a homeowner in foreclosure. If and when their home goes up for auction, the opening bid is calculated by the balance of the loan, court fees, attorney fees, and advertising costs for the legal ad. At the auction, the auctioneer will open the bid at that amount. If no one else bids, the house is sold back to the lender and it becomes a lender-owned property. Continue reading HERE...

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