Burst those foreclosure fantasies6 of 7Many buyers haven't a clue about what it takes to buy a foreclosed home. In many cases, individual buyers don't stand a chance as they end up competing with investors ready to pay cash, Kimmons says.If a buyer or agent doesn't know this, enlighten him or her. "There is a significant percentage of buyers (that) could not buy a foreclosure if they wanted to," Kimmons says.« Back to Mortgage trends. Related Articles:7 keys to FSBO successSelling in a soft marketPick a real estate agentCheap ways to stage a homeRelated Links:Costly seller's remorseBuying your first homeUsing a mortgage calculatorSkip closing costs? advertisement
Many buyers haven't a clue about what it takes to buy a foreclosed home. In many cases, individual buyers don't stand a chance as they end up competing with investors ready to pay cash, Kimmons says.
If a buyer or agent doesn't know this, enlighten him or her. "There is a significant percentage of buyers (that) could not buy a foreclosure if they wanted to," Kimmons says.
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