Have you ever purchased a home that was in foreclosure?

@snowy22315 (50922)
United States
March 10, 2016 8:53am CST
I want to try to sell my house and buy another one in foreclosure, if I can get a decent price for my house, and that is a big if. Have you ever done this or known someone who has? How did it work out?
3 people like this
3 responses
@Corbin5 (112801)
• United States
10 Mar 16
We have purchased four houses but not a house in foreclosure. The process to buy a foreclosed home takes a long time and one usually has to have money on hand to do a lot of repairs. I think we looked at a few and the amount of work needed was huge.
1 person likes this
@snowy22315 (50922)
• United States
10 Mar 16
well some of them are in good shape. I would buy one with the proceeds from my house if I can sell it
@LeaPea2417 (21545)
• Toccoa, Georgia
10 Mar 16
I have never done that.
1 person likes this
@snowy22315 (50922)
• United States
10 Mar 16
Well foreclosures typically go for maybe 1/3 less than those on the open market, but the buying process is a bit complex to undertake.
1 person likes this
@marlina (76560)
• Canada
10 Mar 16
No, never.