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How To Buy A Home Below Market Value?

Library: Home Buying and Relocation: Home Buyer's Guide: How to buy a home below market value?

Real estate experts recommend you several approaches:
  • Sometimes, when home builders put up a housing development, they end up with a handful of hard-to-sell houses. The chances are home builders will make a reduction on these leftovers.
  • Tenant-in-common interest in real property often sell at considerable discount.
  • Foreclosed property may be a good purchase. Firstly, before the foreclosure auction, you might try to buy the property from the homeowner. The owner benefits from avoiding foreclosure and you benefit from purchasing the home at a bargain price. Secondly, if no bids were received at the auction, you might be able to buy the residence from the lender at less than retail value.

Search the list of foreclosed homes for sale.

There are always some sellers who for some reason must sell quickly. Finding these unusual deals is a challenge. It needs a good deal of research and determination.

Generally, if you want to buy a home below market value, view as many homes as possible. The typical homebuyer looks at three to five houses before buying, but if you wish to make a bargain purchase consider far more properties.

Useful Links:

Home Buyer's Guide Describes 15 steps that most homebuyers have to go through in some form or another and contains a wealth of relevant information.

The Home Sales Report Sale price information and property characteristics for a particular home, along with up to 30 comparable sales within a half mile of that home and within the last year.

Foreclosed Homes for Sale From HUD, VA, Fannie Mae, etc.


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