What considerations should I make prior to being a pre-foreclosure home?

Answer by  patti (29325)

Involve a real estate agent or a real estate attorney in your end of the deal. You will have to pay for the services, of course, but in the long wrong it is money well spent that will protect you from difficulties later on. Do not use the real estate professionals who are working on the seller's side.

Answer by  SandyG (807)

Get a tour of the inside with your realtor. Bring someone along who can help spot problems. If you make an offer, make sure you can get a real inspection done that can be cause to terminate the contract.

Answer by  flamiss22 (5081)

One of the most important thing to do is have a thorough search done on the property to make sure there are no liens or judgement that you are not aware of. If you buy and later find out about anything you will be responsible. Get a real estate lawyer.

Answer by  jashayc (20)

Make sure that you understand the time frames involved with a pre-foreclosure home. Lender approval can take up to 3 months, and sometimes longer.