Articles on Foreclosures

Here's a few articles from US News (one from this month, two from earlier this year - but still highly relevant) with helpful hints and tips on looking for or buying foreclosed properties.

• The Top 6 Mistakes of Foreclosed-Home Buying
• 3 Key Ways to Buy Foreclosed Properties
• 5 Ways to Find Deals on Foreclosed Homes

The keys things that I picked out from these articles are that foreclosures properties shouldn't be considered short term investments. If purchased now, they will likely decrease in value in the immediate future, so are unsuitable for anyone looking to make a quick buck by "flipping" them. Furthermore, just because they're foreclosed homes doesn't mean that banks will be extra willing to accept low offers or do deals - they most likely won't.

When searching for foreclosed properties, the articles also advise to make contact with a local real estate agent. You'll firstly cut down on the amount of research you have to undertake in finding these properties, and secondly, an agent that has experience in dealing and selling foreclosures will be of enormous help to you.