Anyone have success buying in the foreclosed home market?

4 points

17 years ago

My first homebuying experience was a bit odd (three generations of a friend's family, complete with general contractors and real estate agents, all sat around laptops one night while we fed them beer and pizza until they found the best houses for us).

This time . . . not so lucky. What sites to use? What are the key variables? I've mapped my new workplace and the best schools in the area. I know the general info about my area. I lived in the same city for six months about 8 years ago and I have friends in the area and I have a 10% down payment. The question is, today, what's the best way to buy the best house cheap?

Foreclosures obviously come to mind, but after trying Zillow and Foreclosures.com and foreclosure.com, this is clearly not a market I'm familiar with. This Boston Globe article provides minimal insight (http://www.boston.com/business/personalfinance/articles/2008/12/19/foreclosure_web_sites_offer_wide_range_of_listings/)

Has anyone had success with the foreclosure market? Could you be so kind as to share your advice?

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