5 Tips for Buying Foreclosed Homes

(TNS)—Despite increases in home prices and a stabilizing housing market, many experts say the foreclosure crisis is far from over. But buying a foreclosed home is different from buying a typical resale. In many cases:
— Only one real estate agent is involved.— The seller wants a preapproval letter from a lender before accepting an offer.— There is little, if any, room for negotiation.— The home comes as-is, and it’s up to the buyer to pay for repairs.
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