Is it possible to buy a home at a huge discount if it is in foreclosure? And if so, how do I progress nearly doing it
Answers:
Not any longer.
bank and financial inst. are not allowing the "large bidder" to totally underbid the default amount on the property.
the bank and fin. inst. are decide to reject High Bidder to retain the properties theirselves. they will hold onto the properties until it is profittable for them to provide...contained by the imply time they are immediately opt to rent or lease the properties.
as we move farther into the foreclosure souk...you will see more and more of this behavior on the sector of the baks and big financial inst.
well brought-up luck :)
No, you won't catch any sort of HUGE discount. You've be watching too tons belated dark infomercials. When a house is foreclosed, the wall take ownership and puts it on the open market for as much as it can grasp surrounded by a mart. They're not giving away these properties.
I've see lenders hang up onto these properties for nine months or more, until an appropriate proposal comes to the table.