real estate

7 steps to a great foreclosure buy

Buy at the year- or quarter-end
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"Particularly for a cash buyer, this strategy makes a lot of sense.

"Make your offer at the end of a month, quarter or year," says O'Toole. "Many times, banks will want to get deals closed and off the books.

So, consider making a November or December offer and highlight the fact that you can close by Dec. 31," he says. You can get a lower price simply because it works for the bank's timing.




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