Advantages of buying Foreclosure :)

Why would you want to buy a foreclosed home? Here are just a few of the reasons that homeowners and investors are flocking to the foreclosure market.

• Low prices: Foreclosures sometimes sell for 30 to 50% below their true market values.Foreclosures are almost always priced lower than homes in the traditional real estate market.
• Great fixer upper homes: Many foreclosed homes are 'fixer upper homes' that need repairs, renovation, and tender loving care. By investing a little, most homebuyers find that they can make significant profit by reselling the home after some relatively quick and minor repairs.
• Lower closing costs: The banks and government agencies that sell foreclosed homes are in a hurry, which means that they are often willing to accept lower offers on down payments, financing options, closing costs,etc. Many sellers will come right out and offer buyers great deals and contract terms simply to sell the house quickly.
• No move-in delays: Most foreclosures are vacant, meaning that you can move in almost immediately after purchasing the home, without having to wait for the previous owners to move out.
• Profitability: Because foreclosures are so inexpensive, they're great options for resale, equity-building, renting, and other investment purposes. You can easily make a tidy profit, and quite possibly make your personal fortune by wisely investing in foreclosed properties.