Research before bid on a foreclosure

THE REAL ESTATE WONK

June 27, 2008|By JAMIE SMITH HOPKINS

The more you hear about foreclosures piling up, the more you may be tempted to buy one. There's a lot to consider if you do - but first things first: Finding them.

A foreclosure becomes a foreclosure when the home goes to auction. Frequently, the buyer is the lender - that's what happens when there's no one else willing to bid at least as much as the lender wants. If you think there's a deal to be had, you can be that bidder.

http://sdatcert3.resiusa.org/rp_rewrite. That site also lets you see how much other homes sold for recently on the streets you're interested in.

Find Jamie's blog at baltimoresun.com/realestatewonk.

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