Alternative Sources Of Foreclosed Home Sales

Alternative Sources of Foreclosed Home Sales


Joseph B. Smith

It may not be easy to recognize brand new foreclosed home sales because they do not appear on national listings as such. Most of these types of foreclosure came to be after builders fail to pay off their home construction loans before they can find buyers for their newly constructed homes. Under this type of foreclosures, the lenders that offered the construction loan take back the property and sell them through real estate brokers. Some refer to these properties as hidden foreclosures because they will not be marketed as foreclosures.

Some investors and first-time home buyers find that another manner of finding foreclosed home sales is through properties that are just about to go into foreclosure. After a bank or lender issues a notice of foreclosure, the original owners can either pay off their entire loan or handle the sale of their home themselves. Since these owners would not want to let all their equity go to waste under a foreclosure so they might be willing to sell their home for a price that will represent the difference between their equity and the home’s real market price.


Properties in Pre-Foreclosure

This types of foreclosed home sales require a lot of guts for the risks may be equivalent to the rewards. At this point, the original owners are hard pressed to sell their property so you can probably get a good bargain for the home. If you are able to strike a deal this way, your seller will be thankful because you have saved them from the stigma of being foreclosed on. You will also be doing the lender a big favor because you will assume the debt owed them. What you need to watch out for is the actual condition of the property and its title.

Since the owners failed to make payments on their loan, it can be assumed that they have also been unable to maintain the home so you need to make sure you carefully inspect the property first. You must also do a title research for any hidden taxes, holds or liens still attached to the property. If you are willing to the the work, you might just snag a real good bargain.

Joseph B. Smith has been educating buyers on the finer points of

foreclosed home sales

at for over ten years. Contact Joseph B. Smith through if you need help finding information about foreclosed home sales.

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Custom Built Homes For Sale

byAlma Abell

Custom Built Homes For Sale gives you choices and floor plans you may never even have considered. You can select the size of your home, the materials for cabinets and fixtures, and green technology for energy efficiency. You can even choose the community in which you want your new home constructed if there are still vacant lots available in that development. Many companies built custom homes, so you want to find one that has been in business for a while. Some companies, like Lancia Homes, for example, have been building homes for over decades and have a proven track record of high-quality homes and customer satisfaction.


You want to be able to see a home completed before you contract with a company to build yours. Some have open houses in new communities they are developing or have a showroom with examples of rooms and homes they typically build. Floor plans should include several layouts for both single and two story homes. If you only have a few options, continue to look because some builders have forty, sixty, or more floor plans available. Financing information should be readily available for you, and there should be homes that fit every budget. The base price may include a move in ready home, but it may not. Be clear about what you are getting for the base price and what extra fees may be required as your home is built.

Homes for sale can actually refer to finished homes as well as custom built ones. Some companies build a few homes and have them ready in development communities for people who are relocating. A custom built home can take six to eight months to complete, depending on the foundation, a basement, and the weather. If a lot is vacant, a home may be built on it to accommodate buyers who did not previously purchase a home. The cost is sometimes lower because the materials, although high quality, are not necessarily top of the line. You may be able to find such a home through a local Realtor or through the home builder directly.

If you are planning to buy a custom built home, contact Lancia Homes. You can also find them on Facebook.