I just spent the last two weeks searching and arranging details for my first home purchase. It was a time consuming process but I learned a lot and hope to share some of that learning with you. I haven’t closed on the property yet and will post information as we proceed but I wanted to write about some of the initial stages while it is still fresh.
Because this was my first purchase I proceeded very cautiously and I recommend that approach for every new home buyer. It can be a complicated process and mistakes in the early stages could create pressure in the latter stages. You can get into trouble if you aren’t sufficiently prepared or knowledgeable. The large number of foreclosures on the market is evidence of that. I have been planning for this transaction for a few years and the planning involved several key issues three of which I will address here. [Read more…] about Investing In Foreclosed Property