Buying a cheap house?

Question

We are looking for a condo. Our lease is up in October. Ive been hearing those commercials where they say you can buy forclosed homes for $199 a month. Have anyone called the number and actually bought a house or is it a fraud? I also want to know what kind of areas are the houses in? Thanks

Answer 1

Those are "tax" foreclosures.  If someone has not paid their property tax for 2 years, you pay it for them.  If they don't pay up in 3 more years, you can go to court and get the deed.  I have bought 40 of these and never got to own 1 house.  THey are in all areas.  /

Answer 2

The $199 per month commercial is a clkaim they make to get you to buy their training program.  

Properties that are in foreclosure are public notice. They are sold at sheriff auction, and everyone has a chance to bid on the property.

Answer 3

stay away from that c**p.  talk to a local realtor.  they can find you foreclosed properties in your area.  be prepared though.  i just purchased my house about 2 months ago and before i did i looked at a lot of foreclosures.  they were all in various states of disrepair.  people trash them when they get foreclosed on.  be prepared for some horrible smells, lots of damage and having to go through a long process to purchase them.