Foreclosures are homes that have been foreclosed on by the bank and are now for sale again to the public. They have the potential to be some of the best Idaho real estate values on the market. There are some additional considerations when purchasing a foreclosure. Boise foreclosures are typically sold in “as-is” condition and you may have less flexibility to choose the escrow and title company you want to use.
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Looking to buy a pre-foreclosed home in Boise, Idaho? We have them too. Fannie Mae, Boise HUD Homes, to national and local banks you will find them all on WeKnowBoise.com.
Boise Idaho Foreclosures and Information
Boise foreclosures are typically referred to as REO (Real Estate Owned) and bank owned homes. Foreclosure auctions, on the other hand, do not appear on the MLS and only sell at county auctions. These types of foreclosures involve significantly more risk, all-cash purchases, and are not always sold with clear titles. Bank owned foreclosures are sold like any other property including the option of obtaining a traditional mortgage. When purchasing bank owned homes the buyer will receive title insurance.
Even as a first time home buyer you have the option of purchasing bank owned foreclosures. As they are handled much like a traditional sale, you will have the option to perform an inspection and grace period to enable due diligence. Inspections are incredibly important when it comes to acquiring foreclosures as these properties are rarely in turnkey condition.
Some important considerations to consider when purchasing a foreclosed property include:
How long has the home been vacant?
Has the home been vandalized?
Will the bank allow all utilities to be turned on for an inspection?
What is the overall condition of the neighborhood?
Whether you are looking for a great deal on your dream home or seeking an investment property in Boise, a foreclosure may be just what you are looking for. A Boise short sale is also worth considering. On our site, you can search for foreclosures in Boise as well as Eagle, Meridian, and surrounding areas.
If you have questions or would like to set up a private showing for any available foreclosure, please feel free to contact us online or call (208) 391-4466.
IDX information is provided exclusively for consumers' personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IMLS does not assume any liability for missing or inaccurate data. Information provided by IMLS is deemed reliable but not guaranteed.
Listing information last updated on November 17th, 2018 at 6:07pm MST.