Foreclosure Auctions - Posted by Mary Lambert

Posted by george on January 21, 2000 at 18:22:34:

Why don’t you attend a few such auctions and talk to the people in your area.

Foreclosure Auctions - Posted by Mary Lambert

Posted by Mary Lambert on January 21, 2000 at 12:56:40:

I am a new investor in West Virginia and have a question regarding foreclosure auctions. Do you reccomend buying houses at foreclosure auctions or tax sales. I would appreciate the pros and cons of it

Re: Foreclosure Auctions - Posted by IdahoRob

Posted by IdahoRob on January 21, 2000 at 23:23:55:

I agree a good way to get free education is to attend a few.

Which is best, tax sales or foreclosure auctions---- There are alot of veriables. One thing for foreclosures they are held more often. Both require doing your homework. Doing comps and determing repairs cost. Repair estimates are hard to do if you don’t have a key for the door. If you find a foreclosure with 30 to 50% equity you know you got a keeper. If you find 25% or less in equity. The more you need to be sure you comps are correct. For a newbi, think it would be best to stay at least in the mid 30% of equity you could capture, if you bought the house.
This is my slant, hope it helps
Idaho Rob