Foreclosures In New Jersey

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Real Estate investors target foreclosures in New Jersey as a fertile source of new projects.  However, "buyer beware" since many times the seller of foreclosed homes have little information to share with buyers.

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Hassles of buying foreclosures at auction

An expert’s single word of advice for folks who dream of buying a foreclosed house at auction: Don’t.

“I caution anyone who isn’t in the (real estate) business: Buying (at auction) can be one of the worst decisions you’ll ever make,” says Jim Hamilton, a Realtor in Los Gatos, Calif. Another bit of counsel from Hamilton: If you want to buy foreclosures at auction, plan on making that your full-time job.

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Foreclosure auction etiquette: 6 ways to win an auction

Auctions are usually fast-paced affairs, here are some expert tips for making a winning bid.

If you interested in buying a property from a foreclosure auction, there are a few things you should be aware of. For example, an important thing to note about foreclosure properties is that when a lenders reclaims one of these properties, a foreclosure auction will be the first and often the only chance you will have to buy the property, so don’t assume that you will be getting a deal simply because it’s a ‘foreclosure’. To make sure that you get the property for the best price, you’ll have to do your homework.

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