10 Tips for Investing in Distressed or Foreclosed Properties

Written by Elaine VonCannon

Continued from page 1

6. If you are going to sellrepparttar property after rehabilitating it, ask your REALTOR to research similar properties inrepparttar 109400 neighborhood to ascertain market price.

7. Keep copious records for tax deductions. Any expenses related torepparttar 109401 purchase, repair, or maintenance ofrepparttar 109402 property may qualify. Meticulous records are key to a profitable real estate venture.

8. The title you receive after purchasing a distressed or foreclosed property is a special warranty deed rather than a general warranty deed. Some buyers are alarmed by this, but there is no need to worry. The purchase of title insurance protectsrepparttar 109403 buyer. Each lender purchases insurance to protectrepparttar 109404 loan as well. Titling insurance should be obtained byrepparttar 109405 property purchaser. It is always offered byrepparttar 109406 closing agent. Consider using an attorney instead of a titling company as your closing agent. An attorney is only $50-75 more than a titling company. A real estate attorney can remedy any situation that may arise. Therefore, they are more efficient representatives on time sensitive foreclosure properties. 9. Foreclosure properties require special addendums and special contracts byrepparttar 109407 individual bank and HUD office (where applicable).

10. Foreclosure properties are potentiallyrepparttar 109408 most profitable, but requirerepparttar 109409 most attention to detail. A REALTOR experienced in foreclosure deals is highly desirable becauserepparttar 109410 paperwork must be in order to submit a proper bid, and timeliness is critical.

Elaine VonCannon is a REALTOR with RE/Max Capital in Williamsburg, Virginia, and she manages investment property as part of her business. Her husband Joe is a contractor who collaborates with her on rehabilitation of properties. She has helped numerous clients invest in and make money on property investments in Southeastern Virginia.

Highlights Early Learning Program

Written by Madhur.G.Bajaj

Continued from page 1
Preparation begins at home right fromrepparttar time your child is born . A rich and diverse learning experience will help to create a complete and well developed personality. This isrepparttar 109399 best way to prepare your child for success in school. Don't you think so? Feel free to get back to us. In anticipation of your reply, Sincerely, Madhur.G.Bajaj

Educational Consultant Lotus Learning Pvt. Ltd. Contact Number: 91-217-2724445

    <Back to Page 1
ImproveHomeLife.com © 2005
Terms of Use