Indianapolis home foreclosures can be the single best way to land an investment property at a significantly discounted price. Current market conditions make it an ideal time to land a bargain residential piece of property. While markets like Reno and Miami are struggling to rebound, Indianapolis has been named as one of the best places to buy an investment property.
Old stereotypes about foreclosed home just don’t fit anymore – these aren’t falling-down houses in bad neighborhoods – foreclosures include waterfront properties and houses in established, even affluent neighborhoods. Keep in mind you’ll need to factor in the costs to repair anything not maintained while the house may have sat empty – could be missing light bulbs, or there might be some other repairs that will need to be made.
Now, you’re not going to get a house for pennies on the dollar, but is absolutely possible to save anywhere from 10-40% below market value. On a $200,000 house, that means you can save up to $80,000! Foreclosed homes in good areas at below-market prices might just be the investment you’re looking for!
If you’re interested in Indianapolis area foreclosures, you’ve come to the right place. Keep in mind that in this area, foreclosures typically move pretty quickly and that banks and HUD will require either cash proof of funds or a mortgage pre-approval if you want to put in an offer. Want to start looking at foreclosure options? Then sign up now for our free foreclosure alert so the minute a foreclosure property becomes listed, you’ll be among the first to know.
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