Real Estate Foreclosures

Written by Patricia Skinner
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In the present economic climate real estate foreclosures are enjoying a boom. What is a sad fact of life for many, has presented unexpected opportunities for some. A real estate investor's dream is to buy real estate at a knock down price and pass it on at considerable profit to himself. This is now more possible than ever before.

Real estate foreclosures are also a lucrative investment for the ordinary buyer. If you're interested in finding a dream home at a knock down price, you should be scanning lists of real estate foreclosures. There are many sources of foreclosure properties, and it is worth your while to learn a little about this before you begin looking.

Two Things You Should Know About Real Estate Foreclosures

HUD and VA are well known federal sources of real estate foreclosures. A word of warning is appropriate here. Many people assume that all foreclosures sell for less than the market price. Surprisingly, HUD and VA properties often sell for near the market price, and a proportion of them actually sell for more than the going market price.

So it is essential that you do all your homework before committing yourself to the purchase of real estate foreclosures. A source of many good foreclosure real estate deals is bank-owned foreclosures. This is because banks are often in a hurry to offload unwanted foreclosure property. They are often happy to let a home go at a lot less than the market price if is covers outstanding debts and expenses.

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