"Chris" wrote in message
oups.com...

Hello I wanted to know if any body could help with a couple of
questions I have.


1. What are the advantages and disadvantages to buying a foreclosed or
police seized home.'

Advantages: lower price
Disadvantages: homes of this type are sometimes in bad neighborhoods.
Sometimes down the road, you might have "guests" show up that think the
former residents still live there. They might just "drive by", too.

There may be drug producing residue of a toxic nature left in the house.


2. What is the best way to accomplish this

Follow police sales, public auction notices, and contact a realtor.


3. what do you need to accomplish this

Motivation, tenacity, and money


4. How much of a discount is there and is it worth it

It can be a sell to the highest bidder public auction on the courthouse
steps, or sealed bid auction. Each case is different. There will be no
"discount". If it is a good house in a good neighborhood, there will be a
lot of high dollar bidders. No one is going to let a good house slide by
them in this market. If it is a fixer upper, or a derelict in a bad
neighborhood, you may have a better chance of snagging it, but are you sure
you want to live there?

5. What are the major problems that Arizona homes have most times that
are repo homes just A/C and floor and walls or what else do you have to
watch out for?

Everything common to buying a used home. Realize that you are not going to
get a true disclosure statement, and AS IS means AS IS. Public agencies are
not going to pay for evaluations, although, you may check and see if it has
been evaluated by HazMat qualified personnel for chemical hazards. Pay an
inspector, and figure it money well spent. Many times, homes that have been
used for drug trafficking, where suicides have taken place, where people
have died and lain in the house for weeks, and where serious crimes (like
murder) have occurred are not required to be disclosed. Check with the
realty broker in that area.

You can get deals. HUD houses, Fannie Mae houses, divorce sales, distressed
seller sales, whatever. You just have to have the cash ready, and move
quick. But try not to do anything really stupid in your haste.

Good luck.



Thanks, Chris