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How to Buy a Foreclosure: Your Go-To Guide to Distressed Properties

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That’s why a home inspection is so important if you’re able to do one. However, sites like Auction.com warn that traditional financing might be hard to obtain when buying one of their homes due to their condition. Griffin adds, in that case, you may need a hard-money loan , equity line of credit , or cash to purchase the property.

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A 2023 Guide to Flipping Houses in Georgia: 5 Cities to Consider

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An inspection might cost a few hundred dollars, but a $400 inspection can keep you away from a $10,000 or $20,000 problem,” he says. Once you win your bid on the appropriate home, it’s absolutely crucial that you get a home inspection and an appraisal.

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A 2023 Guide to Flipping Houses in California: 5 Cities to Consider

HomeLight

Even if something went wrong, you likely wouldn’t end up losing money. If you need to finance the home with a mortgage, there are a few options you should consider: Hard money loans : These are loans from private lenders for short periods of time — they can come with higher interest rates and can be risky for inexperienced investors.

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Flipping Houses in Massachusetts: 5 Cities to Consider

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I never recommend that someone skip a home inspection. If a buyer chooses not to, we have them sign a release stating that we advised them to have a home inspection and they waived it. Real Estate Agent Close Byron R Ford, Jr. I never recommend that someone skip a home inspection. Byron R Ford, Jr.

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Flipping Houses in Ohio? 5 Cities to Consider

HomeLight

Even if something went wrong, you likely wouldn’t end up losing money. If you need to finance the home with a mortgage, there are a few options you should consider: Hard money loans : These are loans from private lenders for short periods of time — they can come with higher interest rates and can be risky for inexperienced investors.

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Flipping Houses in New York: 5 Cities to Consider

HomeLight

Even if something went wrong, you likely wouldn’t end up losing money. If you need to finance the home with a mortgage, there are a few options you should consider: Hard money loans: These are loans from private lenders for short periods of time — they can come with higher interest rates and can be risky for inexperienced investors.

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Flipping Houses in Florida: 5 Cities to Consider

HomeLight

Even if something went wrong, you likely wouldn’t end up losing money. If you need to finance the home with a mortgage, there are a few options you should consider: Hard money loans : These are loans from private lenders for short periods of time — they can come with higher interest rates and can be risky for inexperienced investors.