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The Guide to Different Types of Foreclosed Homes
1. [Volume 1, Issue 3]
The Guide to
Different
Types of
Foreclosed
Homes
Contents
You probably know that foreclosed homes for
sale are properties that have been defaulted as a Introduction ..……………………..1
result of the homeowner failing to pay back their
loan over a period of time. These properties are Different Types of
most commonly sold at public auction. However, Foreclosures…......……………….2
did you know that standard residential home
foreclosures are far from the only type of real Contact Info…………………………3
estate home foreclosures available?
For example, residential foreclosures typically
refer to any non-commercial foreclosures. These
are usually single family foreclosures, but
properties with up to four residential units can
be sold as multifamily foreclosures. However,
while commercial foreclosures usually refer to
office and industrial buildings, they can also refer
to residencies with five or more units.
2. 2
Even among residential foreclosures, buyers
and investors are not restricted to traditional
single or multifamily houses. This guide will
introduce you to the different types of
foreclosure listings:
Mobile foreclosures: Mobile home foreclosures
are usually sold through REO rather than short sale
or auction. This may be ideal if you’d rather buy
foreclosure homes directly from the bank.
Land foreclosures: Land foreclosures provide you
with the perfect space to erect a custom built home.
There’s also plenty of foreclosed farming land
available through the USDA.
Condo foreclosures: Individual condo units get
foreclosed on just as single and multi family homes
do. Condo foreclosures give you all the luxury of
condo living at a fraction of the price.
Manufactured foreclosures: Do you own land on
which you want a home? A pre-fabricated
foreclosure can save you time and money by
What’s does that mean? providing you a house that’s already been built.
Duplex foreclosures: These are homes with two
For more terms and definitions, housing units that are sold as a single home.
check out ForeclosureDeals.com’s
glossary page: Duplexes are ideal for foreclosure investors
http://www.foreclosuredeals.com/G
lossary.php
because they can rent out one or both units.
3. 3
Remember to research the local foreclosure and
Foreclosure Deals real estate market, the neighborhood and the
12550 Biscayne Blvd, Suite 306 property itself before buying a foreclosed home.
Miami, FL 33181 You want to compare the price of the home with
FAX: 1-347-402-6620
Contact@foreclosuredeals.com similar home foreclosures, learn the
If it’s not a deal, we won’t list it here!
neighborhood’s statistics and try to get a tour of
the house. If you can, run a title search and hire
Find us on the Web:
http://www.ForeclosureDeals.com/ professionals to inspect the property.
Want to know more about the different types of
home foreclosures? Follow this link to our blog:
http://www.foreclosuredeals.com/foreclosures/
![[Volume 1, Issue 3]
The Guide to
Different
Types of
Foreclosed
Homes
Contents
You probably know that foreclosed homes for
sale are properties that have been defaulted as a Introduction ..……………………..1
result of the homeowner failing to pay back their
loan over a period of time. These properties are Different Types of
most commonly sold at public auction. However, Foreclosures…......……………….2
did you know that standard residential home
foreclosures are far from the only type of real Contact Info…………………………3
estate home foreclosures available?
For example, residential foreclosures typically
refer to any non-commercial foreclosures. These
are usually single family foreclosures, but
properties with up to four residential units can
be sold as multifamily foreclosures. However,
while commercial foreclosures usually refer to
office and industrial buildings, they can also refer
to residencies with five or more units.](https://image.slidesharecdn.com/theguidetodifferenttypesofforeclosedhomes-101214140159-phpapp02/85/The-Guide-to-Different-Types-of-Foreclosed-Homes-1-320.jpg)
