Enter your Zip Code or City & State to get
started, then click "Find Foreclosed Homes."
Distressed properties are sold by lenders to collect the outstanding debt owed by a homeowner who has gone into mortgage default. Another by-product of the collapse the real estate market, distressed homes can be purchased at great discounts. Be sure you understand what accounts for the low prices before making a bid.
The lenders are anxious to sell these distressed will properties for sale at low prices. Distressed homes agents may drop the price until you reach an offer, allowing you to save up to 50% off the fair market value. Your savings may need to go into necessary renovations, so these bargains come at a price!
Some distressed properties may only need minor repairs, while some require major structural renovations. When bidding on distressed properties, be sure to a professional estimate on the cost of the required repairs before you sign your name. Getting pre- approved for a loan will also put you at the head of the bidding class.