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A Comprehensive Guide to Finding the Best Foreclosures in Your Area

Realty Biz

Auctions often offer the best discounts but also carry the highest risk, as you usually cannot inspect the property beforehand. Buying an REO property often involves less risk than an auction, as you can inspect the property and clear any title issues. Inspect the Property: Always inspect a foreclosure before purchasing.

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

HomeLight

Plus, a physically foreclosed property will typically have its liens wiped out during the foreclosure process , so you know you’re typically getting a home with a clean title. That’s why a home inspection is so important if you’re able to do one. Drawbacks of a foreclosed property. They’re usually sold ‘as-is’.