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5 Things You Should Do Before Buying a Foreclosed Property


1
Make Sure there are no Outstanding Liens
You may have gotten a good deal on the mortgage, but you also need to account for any past-due property taxes, homeowner's association fees and repairs to calculate the total cost of the home.
You may have gotten a good deal on the mortgage, but you also need to account for any past-due property taxes, homeowner's association fees and repairs to calculate the total cost of the home.
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Before you buy a foreclosed property, you'll want to do a title search to see if there are any other strings attached to the house. The previous residents may have had more than just a mortgage that they couldn't pay (like property taxes or homeowner's association dues). You can check court records for this kind of information, or you can hire a lawyer or title company to search for liens.


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