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

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This is different than a short sale because a pre-foreclosure seller usually still has equity in the house (meaning the home value is more than their mortgage balance). That’s why a home inspection is so important if you’re able to do one. The average home closing in the U.S. Drawbacks of a foreclosed property.

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

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Chandie Hupman Real Estate Agent Close Chandie Hupman Real Estate Agent at Keller Williams Realty 5.0 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. Check licenses and references before signing any contracts.

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

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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

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With more than 17 years of experience in the Syracuse market, Frank Procopio has closed nearly 600 real estate transactions and has personal experience flipping houses, as well as working with investors and homebuyers who are actively flipping houses in the area. You can save money by doing some of the work yourself, of course.

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Flipping Houses in Florida: 5 Cities to Consider

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Jeff Riber Real Estate Agent Close Jeff Riber Real Estate Agent at ERA Heavener Realty 5.0 Even if something went wrong, you likely wouldn’t end up losing money. Once you win your bid, it’s absolutely crucial that you get a home inspection and an appraisal. Check licenses and references before signing any contracts.

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Flipping Houses in Texas: 5 Cities to Consider

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Jeremy Larsen Real Estate Agent Close Jeremy Larsen Real Estate Agent at Berkshire Hathaway HomeServices, PenFed Realty Texas 5.0 Even if something went wrong, you likely wouldn’t end up losing money. Once you win your bid, it’s absolutely crucial that you get a home inspection and an appraisal.