Louisville KY Foreclosures for Sale
If you are looking for a home in the Louisville area you might consider purchasing a property that was in foreclosure. While not for everyone, if you do some research, ask the right questions and seek professional advice, foreclosure properties can give you some real bang for your buck.
Here are some ideas to help you guard your investment before you buy a property that came onto the market due to foreclosure:
Foreclosure properties in Louisville take time get listed on the market. If you see a home that interests you and it appears to be unoccupied, check with your real estate professional to see if it is available. If it is in a foreclosure process, it may be some months before the property is listed on the market. Once the sale is advertised, your work begins. If a home was in foreclosure, compare the property value to others in the area. Is the listing price favorable? If so, you can schedule an appointment to see the home.
If you really like what you see and would like to place an offer on the home, consider hiring a certified home inspector to carefully assess the condition of the property. A successful home inspection can be made a condition of your sale offer. This is important, because if the previous owner was under financial pressure, he/she may not have properly maintained the home. Getting a home inspection report can save you save you nightmares later.
One other safeguard you may be able to put into place on a foreclosure property is a home owner’s warranty. Often this can be made a condition of the sale and requires the owner to purchase one year of home owner warranty coverage at their expense. That way, if the unexpected happens you are facing a small deductible, not a major repair.
In today’s market, foreclosure properties can offer an incredible value if you do the research and take the time to guard your investment before you buy.
These Foreclosures for sale are updated every day from the Louisville KY MLS. If you would like more information on any of these Louisville Foreclosures for sale, just click the "Request More Information" button when viewing the details of that property. We can provide you with disclosures, past sales history, dates and prices of homes recently sold nearby, and more.
And, if you haven't already, be sure to register for a free account so that you can receive email alerts whenever new Foreclosures come on the market.
As a buyer, getting a home inspection is a crucial step in the home buying process. It's not something to take lightly or a step in which to cut corners. It's important to have a professional examine the home as this is most likely the largest ... Read More