I am really interested in buying a foreclosure but do not know which way to go. How do I get started?

I have been interested in foreclosures for the longest time but never chose to research further or take advantage of the market. Because it is a excellent time to buy I was hoping someone out there can offer some advice (in addition to the recent research I’ve been doing).

Because I don’t know much about the process I will throw around a couple terms I’ve heard lately: REO, gov’t tax lien certificate sales, title & bankruptcy search, property inspection, and HUD foreclosed.

I wanted to try a tax lien certificate but after doing research I’m seeing that this may not be the best way for me since I am so inexperienced. What is the best way for me to buy a foreclosure and how do I get started? How long does the process generally take? Is there a way that I can see the property before bidding at an auction? If a property is a REO then I should be able to see the property before purchasing, right? Last question, When can I get the property inspected and a possible appraisal (before or after the property is bought)?

Whomever reads and answers this question, thank you in advance! I know this is a long question but I am serious about buying a foreclosure and doing the research necessary to attain this goal. Thank you.

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This entry was posted on Tuesday, August 18th, 2009 at 7:14 am and is filed under HUD Foreclosures. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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One Response to “I am really interested in buying a foreclosure but do not know which way to go. How do I get started?”

Tony Cartman says:

August 20, 2009 at 5:56 pm

It’s vital to find a website that provides a complete listings source for you. Find the best offer and make a fantastic deal is an vital step. You can check ForeclosureListings.com!

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