If you are interested in buying a home in USA, now is the right time! Motivated and encouraged by the low prices, the number of Australians who decide to make overseas investments is significantly increased over the past few years. It seems that buying a house in USA is a new trend in Australia. That’s pretty normal if you take into consideration the fact that a house in Australia costs between $400,000 to $600,00, where as in America you can find one for much less.
Of course, buying a house overseas brings some risks, but it’s definitely a worthy investment. With the right real estate agent behind you, purchasing a USA home won’t be a trouble. A lot of people put accent on foreclosure USA homes. And there is reason for this. The foreclosure USA properties cost much less than the regular houses that are on the market for sale, simply because you deal with a bank that doesn’t want to make profit, but simply to return its money. Continue reading to find out how you can purchase a foreclosure USA home in the most efficient way.
Pre-Foreclosure – What does pre-foreclosure means? That’s when you buy a house directly from a homeowner. This buying method is better known as a short sale. That’s when a homeowner fails to pay the money he/she owes to the bank. In this situation, the homeowner is willing to sell the house for the exact sum of money he/she failed to return, in order to bail out the financial debt without affecting the credit history. So, if the house is worth $300,000, you can get it for let’s say $150,000.
Lender Owned – Many Australians prefer to buy foreclosure USA properties through the lender-owned method. That’s when a lender has bought a property at action sales, where no one else placed a higher bid than the default amount. Now, that same lender can sell the foreclosure USA house for the price he/she wants. Here you have more freedom to negotiate about the final price.
Auction Sale – Want to buy affordable foreclosure USA home? Then, get ready to bid. Auction is an excellent way for buying foreclosure USA properties. Of course, auctions have their own advantages and disadvantages, but in general it is a good way to buy a house for less money. The bad thing about this process, is that homeowners have certain period to pay off the loan and reclaim the property.
Government-Owned – If you are willing to wait in order to find the most affordable house, then the Government-owned properties are your best choice. The process of buying foreclosure USA properties that are owned by the Government might lasts longer than you actually think. People from this sector might not be in rush to sell the property nor to lower the final price. If you don’t mind waiting, then try your luck with this unique buying method.