If you're looking for Dallas foreclosures, you came to right place. We have more then 1,000's of listing of foreclosures in Dallas and surrounding areas. Some of these homes can be bought at 50% below market value.
How are foreclosures different from a regular sale?
Foreclosures are bank owned properties that the Lender is selling to the public. These homes could be bought at a deep discount depending on the location and the condition of the property. Foreclosures usually take longer to close because of the extensive paperwork process.
Foreclosures could be bought either buy paying cash or providing financing. If you're providing financing, the home MUST be in good condition for the lender to secure a loan. If the home does require extensive repairs, you can still obtain a loan, by using an FHA203K loan. These loans could be used to fix up the property, and are only available for owner-occupied homes.