In general Foreclosure process is simple. When you see an home auction on the front porch, a crowd of nervous home buyers, a few minutes to see the item, and the bidding for property begins. This is how most homes in foreclosure are sold.
But it’s rarely how some smart people and property investors buy the hundreds of properties and houses every year and make profits in buying and selling a home. Lot of time you just pass the sign, “homes for sale”.
Every Year Banks all across the country want to unload hard-to-sell properties in bulk i.e. “bank foreclosed homes”, because the houses are in the most distressed parts of the country. They know someone will buy this home, but at a rock bottom price. Sometime these houses are even more cheaper than “homes for sale by owner”. It could be HUD home, mobile home even it could be luxury or historic home.
Here is how this real estate thing work In the first week Someone own a house, In the second week you have a house, if you have a job, In the third week you put a sign, “house to be sold”, because you want somebody in that house. That property sign just relate to that guy who is walking home and he can say, ’Wow, 900 down, 500 a month. That’s cheaper than my home rent.’”
If you own more than one Cheap Property, you can sell in bulk to Real Estate investors. Some time House deals are Too Good to Be True in Foreclosures. So when you Grab the real estate deal you know ’People Want to Own a Home’ and you can sell that peace of real estate to them. The challenge is, how do those home owner families feel about that Home purchase two years from now, three years from now? Are they still able to afford their home mortgage? As many as 30 percent of House owners wind up losing their homes, because they can’t keep up with the house payments or can’t handle the repairs of their home.
Some house owners are better off renting their houses, when they can’t afford their own home. Just because of two fundamental American facts, home ownership and capitalism, You can become a Real wealthy man through Real Estate.
I hope now you can Buy Cheap Homes in Real Estate Foreclosures or in Government Auctions and put the sign “For Sale”.