Buying a foreclosure—is it worth it?

At first glance, the foreclosure and distressed property sales are an appealing opportuntity and yes, at times they can offer the homebuyer or real estate investor a  real value.  Be careful, however, because buying a distressed property has many hidden challenges and is not always a wise choice for the novice homebuyer.  Remember, these homes are on the market as a distressed sale for one reason…the current owner is not able to keep up with payments or must sell at a discount because of a change in job or personal hardship.  That said, many of these homes have fallen into disrepair, are often abandoned or vandalized and may have outstanding title or tax liens in place.  If you’re thinking about buying a distressed propery consider the advice of  the Wall Street Journal .  Whether you’re up to the challenge of owning a distressed property or just searching for a good value in today’s real estate market start your home search here and contact me at RE/MAX Partners in Andover for a free homebuyer consultation.