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Foreclosures for Sale
Understanding foreclosure properties can be confusing. Purchasing an REO is much more challenging than buying a traditional buyer occupied home. In addition to the very limited disclosures that Foreclosures have, most REOs also require a plethora of addendums and amendments to the purchase agreement.
Buying a Foreclosure is Different
All of these slight changes to the legally binding contract are in the favor of the bank. Where most home purchases are completed on a state issued purchase agreement, the scores of additional documentation that you will be required to sign as the buyer of a foreclosed home.
Because of the additional steps and paperwork needed when you purchase a foreclosure, it is recommended that you use a top real estate agent that is familiar with the process.
For more information on Buying a Foreclosed property click HERE.