Escrow according to dictionary dot-com means “a contract, deed, bond, or other written agreement deposited with a third person, by whom it is to be delivered to the grantee or promisee on the fulfillment of some condition.” Don’t let the term escrow confuse you …Read More
The most popular investment strategy is to purchase foreclosed properties or properties that are likely to be foreclosed. Many people want to sell their houses or properties fast, since the financial situation of many individuals is under stress and they are looking for a faster bailout. Such bailouts may many times be very favorable for you.
Buying houses in foreclosure is cheaper, simpler and slightly different from buying a resale. A foreclosure takes place when a home owner or a property owner cannot pay the mortgage on a property. He is forced to give up the land or building in order to pay off the debt. If you want to buy a property, it’s better to go for one in foreclosure because buying houses in foreclosure is a bargain.