It is obviously the ambition of home buyers to check into cheap houses for sale in a great neighborhood. For first time home buyers to be in down into the housing property permanently or for investors to flip properties bought at low prices with good margins, cheap houses for sale would be the main target.
Fortunately, the current foreclosure crisis hitting the Real Estate markets in the US has rendered countless 1000s of cheap houses for sale.
Cheap is a contrast in prices, which depends upon many factors. A housing property considered cheap in a location, may not be cheap in another prime location. For instance if you intend to buy a housing property in the most sought-after location like Florida beach side, you must consider buying a house at a price around $200,000 as cheap. For the exact same amount you should buy a palatial Bungalow in a suburban section of Arizona.
So what’s required is always to plan your home buying activity well in advance. If you intend to buy a home for your family to live, first you’ve to decide about the location. Cheap Houses San Francisco Then make a look for the best property to match the wants of your family – bedrooms; amenities; conveniences nearby; proximity to workplace etc. Foreclosed properties are now being sold at prices, which are just a portion of the real value. There are plenty of properties as cheap houses for sale that could suit your requirements in most aspects available, listed in the foreclosure listings of any area.
Buying a foreclosure property has been made easier of late. You’ve to understand there are three stages of foreclosure process – pre-foreclosure stage during the period between Notice of Default issued by the mortgage lender to the defaulted home owner and the particular foreclosure sale by public auction; actual foreclosure stage when people auction takes places either through the Court by Sheriff Sale or out-of-Court by a Trustee Sale; and repossession by Banks and mortgage lenders following the foreclosure sale public auction.
Each stage of foreclosure process offers different types of cheap houses for sale. At the pre-foreclosure stage, you should buy cheap houses by negotiating with the distressed home owner directly. It includes the opportunity to trace the title of ownership of the property; to see the property face-to-face and inspect the exact same critically; keep in touch with your home owner one-to-one and get the very best bargain in the selling price by tactful negotiation. This is the better way to purchase cheap houses for sale to the complete satisfaction of both the vendor and buyer.
In the particular foreclosure sale public auction, you are able to bid for the property you’ve identified as suitable, but face competition from others. In the case of repossessed properties by Banks, you are able to approach the concerned Bank to purchase cheap houses for sale from the listing of properties available with them. These properties will undoubtedly be in good condition to begin living there at once, without the encumbrances as second mortgage, tax liens, other debts etc. The selling pressure on these properties may be used as leverage for arriving at a negotiated cheap price.