Yes, I wish to receive occasional emails about special offers, new listings and exclusice promotions. The large cash outlay required to buy foreclosed property at the Sheriff’s Sale is the biggest deterrent for most buyers. We offer the complete MLS (Multiple Listing Service) including condos, town homes, foreclosures and new homes in all Columbus Ohio and all Central Ohio.
The time and location will be on the foreclosure listing or on the advertisement from which you found out about the sale. The Department of Veterans Affairs (VA) acquires properties as a result of foreclosures on VA guaranteed loans. So far this year, has auctioned more than 17,000 foreclosed properties for $1.3 billion.
Dan Immergluck, a professor of city and regional planning at the Georgia Institute of Technology’s College of Design, estimated in an unpublished research paper that a firm like Harbour could generate an annual return of at least 28 percent based on the way it prices homes.
More specifically, locating a foreclosed home depends on where exactly it is in the foreclosure process: Properties can still be owned by the original homeowner (in the earlier stages, in case of pre-foreclosure and short sale properties), or by an entity such as a bank or the government (in the later ones).
The homes are typically in worse shape than average, which drives the price down but makes for more fixing up. As KUOW reported a few years ago , some experts see bank-owned property as an underused source of affordable housing in Seattle and elsewhere.