Buying and flipping foreclosed homes can be profitable. However, novices need to tread carefully. Generally, homes in the process of being foreclosured can’t be inspected homes prior to auction. A home in need of major repairs could negate a bargain purchase. Because the owners are having financial problems, the home may be encumbered with hidden liens, back taxes, judgments or utility bills to pay. State and local rules vary concerning transferring the title (deed) upon sale of the property. Understanding the process before bidding and knowing the existing homeowners’ rights is necessary for a successful investment to occur. Make Money in Short-Sale Foreclosures: How to Bypass Owners and Buy Directly from Lenders

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