Can I buy a foreclosed house?
My family and I are trying to find a new home that is near to the tourist spots. I would like to start a business there and my children wants to study there for college. My wife found a delightful and subtle house but we are told that it is a foreclosed house. Can we buy the that house even though it is foreclosure?
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A foreclosed home purchased through auction might also have liens filed against it, such as liens for outstanding tax payments. Banks will often sell these homes at prices below market value to get rid of them. The best news for buyers is that banks are required to pay off any liens filed against these properties