Anonymous
6/21/2025, 3:01:00 AM No.33251911
I want to buy a house for my family and I'm thinking of going to foreclosed route and maybe fixing it up. Is this smart? It could be cheaper than just buying one
Replies:
Is it worth it buying a foreclosed house? - /adv/ (#33251911) [Archived: 848 hours ago]
Anonymous
6/21/2025, 3:16:39 AM No.33251976
>>33251911 (OP)
Given the fact that you have said nothing about the house nor your fixing up abilities nor the expected price nor the neighborhood then who knows? There's obviously something wrong with you.
Given the fact that you have said nothing about the house nor your fixing up abilities nor the expected price nor the neighborhood then who knows? There's obviously something wrong with you.
Replies:
Anonymous
6/21/2025, 3:21:01 AM No.33251989
>>33251976
Around 300k and I'm self taught. I have some friends into construction as well
Around 300k and I'm self taught. I have some friends into construction as well
Anonymous
6/21/2025, 3:23:15 AM No.33251996
Depends, there is no right answer. I almost foreclosed because of my partner leaving and I was unable to pay the mortgage. Luckily, the house sold a week before foreclosure. Some foreclosures happen for those reasons and the house is fine, other reasons also that you would expect troubles in the house. Just look through the house and your home inspector will tell you everything anyways.
Anonymous
6/21/2025, 3:26:21 AM No.33252014
>>33251911 (OP)
I won't read threads started by cucks obsessed with black dicks
I won't read threads started by cucks obsessed with black dicks
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Anonymous
6/21/2025, 3:26:47 AM No.33252017
>>33251976
guy just wanted a quick excuse to rub our faces in his sick fetish
guy just wanted a quick excuse to rub our faces in his sick fetish
Anonymous
6/21/2025, 3:32:54 AM No.33252042
>>33251911 (OP)
there are people who make a living flipping houses. you'll be competing with them for the bid on a foreclosed home. And they have more skin in the game than you do at the moment.
there are people who make a living flipping houses. you'll be competing with them for the bid on a foreclosed home. And they have more skin in the game than you do at the moment.
Anonymous
6/21/2025, 3:40:44 AM No.33252071
>>33251911 (OP)
The part of buying a foreclosed house that makes it miserable and time-consuming is that instead of there being two parties involved in the transaction that are motivated, with a foreclosure you have at MINIMUM three parties involved in the transaction, and sometimes up to five. And the only actually motivated entity that wants the sale to go through quickly is you, the buyer. The employees of the bank that foreclosed on the house are managing a ton of them at once and don't care if they take so long that you overstay the lease on your rental.
Expect the process of closing on the house to take two to four times longer. Depending on the area you are shopping in the only benefit that's likely is negotiating offers might involve fewer counteroffers and contingencies. So the start of the process might be fast, but the rest will take forever. Especially if your homeowners insurance or their underwriters need a signature or inspection performed for anything specific.
The part of buying a foreclosed house that makes it miserable and time-consuming is that instead of there being two parties involved in the transaction that are motivated, with a foreclosure you have at MINIMUM three parties involved in the transaction, and sometimes up to five. And the only actually motivated entity that wants the sale to go through quickly is you, the buyer. The employees of the bank that foreclosed on the house are managing a ton of them at once and don't care if they take so long that you overstay the lease on your rental.
Expect the process of closing on the house to take two to four times longer. Depending on the area you are shopping in the only benefit that's likely is negotiating offers might involve fewer counteroffers and contingencies. So the start of the process might be fast, but the rest will take forever. Especially if your homeowners insurance or their underwriters need a signature or inspection performed for anything specific.