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Sellers stripped the foreclosure home’s assets and/or vandalized the property.; The bank refused to accept less than its present mortgage balance. Buyers passed over the short sale in favor of a hassle-free purchase.; The location of the home and/or neighborhood was undesirable.
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Buying foreclosed properties, fixing them up, and selling them looks easy on TV, but in reality, it’s a more complicated process than most people think. Here’s how to buy a foreclosed house and actually make a profit.
How to Buy Foreclosed and Bank-Owned Homes. A foreclosure is a bank-owned home. Foreclosures are also called real estate-owned (REO) homes. Learn how to buy a foreclosure below.
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Chicago: 5 Foreclosed Properties Near You – CHICAGO, IL – Are you hoping to buy a new house, but can’t spend too much? Why not look at foreclosed properties in the area? You might just find your dream home in the rough! Here’s a handy.