Is foreclosures the best way to find a first home, Iam in construction...?
Answers:
You can get more house for the money, but be aware of a couple things.
Banks usually turn off the utilities for vacant forclosures. That means you cannot have the mechanical systems fully inspected, and the bank will not allow contingencies should anything be wrong.
Sometimes people get angry enough about a forclosure (even though the bank is well within its legal and moral rights to sieze a home for non-payment) to do malicious damage -- kicking holes in walls, taking plumbing and electric fixtures, etc. One that I recently went through looked like someone took a sledgehammer to the kitchen cabinets, just out of spite.
So yeah, you can get a good deal, just be aware of the downside.
Other answers:
It can take awhile to hear back from the bank on a foreclosure. that is why my husband and I chose not to go that route because we were sick of waiting.
It can take awhile to hear back from the bank on a foreclosure. that is why my husband and I chose not to go that route because we were sick of waiting.
It is usually the cheapest way to find a home when they go up for bidding at County Courthouses.