Washington Foreclosures

Written by Rachel Arieff
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Washington foreclosures are mostly commonly purchased by two kinds of buyers: first-time home owners with very little capital (and sometimes very little credit as well), and real estate investors. The second group includes professional landlords, who look to make money off the rental income generated by these properties. In these days of decreasing home ownership and increasing rentals, this is a smart financial move for property owners.

The attraction of Washington foreclosures, of course, is that they can be purchased at a deep discount off the normal market rate. These properties include both residential and commercial, and can be purchased either directly from the owner (in the pre-foreclosure state, before the property has reverted to the lending institution), through public auction, or from the lending institution (if the property has indeed reverted back to the lender).

The Scoop on Washington Foreclosures

Are you new to the world of foreclosures, but wishing to get started either as an owner or investor? You can easily educate yourself about foreclosure basics through popular books on the subject, as well as online forums and tutorials. Other good resources include numerous online foreclosure search engines, which offer thousands of current listings on foreclosures in every state--including Washington foreclosures.

The most useful search sites feature important extras such as a list of Frequently Asked Questions, tutorials, user forums, recommended reading lists, and, if you wish, real estate help with a live expert. However, basic to every listing service are the detailed summaries of every listed foreclosure property, including pictures, tax information, property data and seller contact information.

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