Almost every foreclosure sale in our area has multiple offers. Still plenty of foreclosure homes on the market and being entered weekly. To buy one the buyer usually has to bid over list price. Glad to see the prices going up which will help home owners start building equity again. Many comments are negative on buying ...more

Well done article. I sell foreclosure homes in Missouri and now have a more information to share with my clients especially on testing. Thank you.

I wonder if the listing and selling broker/company are the same company. If the for sale sign and lock box were at the wrong home, who put them there? Sounds like a great reason to have a property survey done prior to signing closing docs. Unless both properties are owned by the same seller, someone (agent or title com...more

The information contained in the article is right on but of course depends on the area of the country you live. Work with one EXPERIENCED Realtor that knows foreclosures. There are big differences between REO and Goverment owned properties and how the bidding system for each works. Many a deal has fallen through simply...more

A lot of the comments posted refer to not having the money to invest. HUD (hudhomestore.com) right now is offering the properties it acquired (through FHA loan default) at only $100 down! This is for owner occupants but what a deal! Buy the home, fix it up, stay in it 2 years (to avoid capital gains) and then sell it a...more

gritsofaz, install the new carpet now (paint first if needed), neutral colors. The grade of carpet will will depend on the area you live (top of the line if you are in a high priced neighborhood). Keep personalization to a minimum so buyers can picture themselves in the home.

Would like to respond to Patricia's comment about getting the run-around on the short-sale offer... Because the seller's mortgage holder(s) have to make the final decision on whether to accept your offer, it can take months to get an answer.  It may seem like the listing agent is giving you the run-around, but the list...more