How to Buy Foreclosed Real Estate for a Fraction of Its Value

by Theodore J. Dallow

As foreclosures increase, so do the odds of finding the home of your dreams! You can ride out the storm in the housing market and find great real estate at amazing values. Whether you're looking for a new home or an investment property, this step-by-step guide will show you how to find, buy, and finance foreclosed property. This new edition includes information The current state of the housing market and the opportunities it offers; How to find foreclosed property on the Internet; Short selling and other techniques for buying foreclosed real estate. You'll also learn how Research properties; Get the best financing; Manage investment properties; Limit repair and remodeling costs. Real estate experts Don Ayer and Dick Pas have revised Theodore J. Dallow's classic text and added invaluable new material in the process, making this the only guide you'll ever need to buying foreclosed property.

Genres: Business, Nonfiction

176 pages, Paperback

First published January 1, 1992

Reviews

[Brian · Rating 3 out of 5]

Okay, let me say first off I feel pretty guilty about reading this. Trying to profit off other people's misfortune is not my main goal in life. That being said housing prices are ridiculously high, and long term I will need somewhere to live (and prices will go up),so now is a good time to buy.

Rule Number 1- If you buy at an auction get full blown title insurance.

Rule number 2- Be very careful there are a lot of sharks out there that know what they are doing. If it is a good deal somebody else is going to be there trying to get it which makes is less of a good deal.

Rule Number 3- No what you are getting into (look before you leap). Research as much as possible, inspect the place, and no what you are getting into. Don't buy without an inspection.

Rule Number 4- Take your emotions out of it. It is a financial transaction first, so don't buy a house because it is cute.

Rule Number 5- This is more opinion than anything, but don't buy a house as an investment. It is a place to live. Don't buy more than you need, as that just makes it harder for everyone else to get a home. Maybe it is time we ended the dream of a big house in the suburbs where we live alone. I think we just need to jam more people in the ones we have. I know room mates are annoying but it will make you a better person, be cheaper and better for the world. Maybe I should be looking into a good tent instead.



There was also a lot about information about how we got in this mess in the first place (greed mainly).

[Gary · Rating 3 out of 5]

Although the book was informative, it was written in 2000, and seemed a little outdated in regards to loans and misinformed to markets not on the East coast. In addition he took a soured view on renters. But for the little time it took to read it was worth the time.

[Andy Rodriguez · Rating 3 out of 5]

Rather dry but informative. I have a better grasp on the process for buying the property and I have more vocabulary to study. I also appreciate the checklists and sample of a buyer's agreement to study. I recommend this book to anyone who wants to know what not to do when buying foreclosed property.

[Ryan · Rating 4 out of 5]

Has a lot of good info on how to search for a good investment foreclosure.