Upcoming Foreclosures

When a Foreclosure is listed at $9,000, does that mean that is the default amount? How do you know sale price

Example: home on RealtyTrac in Foreclosure, list sales price at $9,000. house value is probably $300,000, but shows sales price at $9,000???? Can you qualify for traditional loans to buy a foreclosure?

Public Comments

1. 9000.00 is more than likely what you have to put down up front in order to purchase. Has to be a cashiers check or equivalent.
2. Information is only as good as the person inputting it. When you see a large mismatch to foreclosure amount and balance owed, don't get too excited and think that you'll pick up a $400,000 home for $10,000. That is never the case. It could be the following: second or third mortgage, HOA fees, tax fees or just the delinquency amount. Also, since foreclosures are an adverse possession all of it is public notice and can be verified and researched. On RealtyTrac there should be a few contact numbers. Call them and verify the information.