Purchasing a Foreclosure: Pros and Cons - Charlotte, NC Realtor | Buy Sell Homes

Buying a foreclosure can have its rewards but not every foreclosure is a "diamond in the rough" or a great deal.

Pros to Buying a Foreclosure:

1. Great Price! The average foreclosure's price is 10-15% less than similar properties in a specified area. And the ability to possibly move into a neighborhood that you could not otherwise afford.

2. Equity!

3. "Top of the table" negotiations. The bank is looking at the bottom line or what they will net from the cell. No Sellers emotions to deal with.

Cons to Buying a Foreclosure:

1. No guarantees or warranties of the condition of the property from the Bank.

2. Surprise cost of repairs.

3. "Vacancy Issues": Small leaks and creaks that turned into larger issues, vandalism, theft, and squatting are all common issues when purchasing a foreclosure.

Watch this video to learn some things to expect and things to look out for when purchasing foreclosures. Find your new home or investment property at: www.CharlottesBestRealEstate.com

Видео Purchasing a Foreclosure: Pros and Cons - Charlotte, NC Realtor | Buy Sell Homes канала Ashley Jamerson - Real Estate Agent