Some may have seen infomercials over the years promoting the notion that the government has foreclosure listings at incredible deals. It has been repeatedly reported that some properties can be had for $10,000 or less. Many are skeptical of such a notion. You might assume that the notion of such a “flat-rate” property sounds good on paper, but the reality of acquiring a decent property at such a low cost doesn’t exist. Being skeptical is certainly an attribute. No one should find themselves looking for deals that can’t really be found.
However, it is also necessary to point out that you can definitely find foreclosure listings through the government that are much less expensive than one would think possible. Remember, the government will want to sell the foreclosed property as soon as humanly possible. The government is not in the real estate business. That means you’ll have to get rid of any property you own in the shortest amount of time possible. If this means that the government needs to get rid of the property as quickly as possible, then it will. Once again, the government is not in the real estate business and does not want to drag out the sale process any longer than necessary. The government will also want to avoid paying all the costs associated with owning the foreclosed property. This helps fuel the government’s desire to get rid of the property as soon as possible. Sometimes this will come in the form of property sales for less than $10,000.
Please note that many of these lists can become competitive. In other words, someone could come along and offer to buy the property over someone else’s offer. Therefore, a property that is listed for $10,000 may end up selling for a higher price. Consider this information a warning sign that you need to act quickly on any deal that comes your way. When you take too long to make and consult or submit an offer, you will find yourself potentially missing out on a deal. That certainly wouldn’t prove very helpful to the cause!
Ultimately, foreclosure listings are available to help you find a great property at a fair price. When these listings become available, you should jump on them. After all, you don’t want to be left out in the proverbial cold and miss out on a lot.