Buying foreclosed/government ceased property good idea or bad idea?
By apples99
@apples99 (6556)
United States
July 18, 2009 5:59pm CST
If your a first time home buyer would you consider buying a property that has been foreclosed on and put back on the market, or a property that has been ceased by the government? I'm not so sure that buying a home like that is such a good idea, I think its better to go through a reputable real estate agency instead of buying one thats been ceased or foreclosed on. but whats your views on this do you think its a good idea or bad idea to buy government ceased property?

1 person likes this
2 responses
@tdemex (3540)
• United States
19 Jul 09


@apples99 (6556)
• United States
19 Jul 09
Well if I were to purchase a home it would most likely be my permanent resident's I would be looking for something thats move in ready not something that would have to sink in a lot of money into, becuse I'm not rich but I'm doing ok lol, that might be somthing to consider later as means of earning extra money, but I'm not so sure I would want to buy a government owned or ceased home to live in for life.

1 person likes this
@echomonster (2225)
• Greenwood, Mississippi
6 Aug 09
You can get some good deals on foreclosed properties so I think it's well worth considering. You should go into it anticipating that there will be problems with the property. Do what you can yourself, but also be prepared to call in the experts to do some difficult repairs and anticipate that those costs will be just as real as what you actually pay for the home.
