Austin area foreclosure properties often present a great opportunity to buy a great home at a great price! There are several sources for these properties: a few of the more popular sources are U.S. Dept. of HUD better known as HUD properties, bank repossessions, county tax offices and even PREforeclosures! Each of these sources has its unique buying and bidding processes so consult a REALTOR® for assistance in property evaluating, researching and purchasing foreclosure property.

TOP SIX REASONS TO BUY A FORECLOSURE PROPERTY :
1Motivated sellers = discounted prices: Banks hate foreclosures because it costs them BIG $$$ to hold these properties. Private individuals facing foreclosure (PREforeclosure) have to sell or face eviction and long-term damage to their credit. The result for these sellers is high motivation to sell at a discount!	2Time = money:  The longer banks or other foreclosure sellers hold on to foreclosure property the more $ they lose to property taxes, lost revenue and other holding costs. Private sellers also face mounting bills on a house they can’t afford and intense stress. The quicker a buyer can make a deal the better for all parties!	3Big discounts = less risk: Any time you can buy any investment at a steep discount that investment becomes inherently less risky. Why? If that investment encounters volatile times or period of declining value, the discount could be the difference between suffering a loss and breaking even! Furthermore, all investments are risky, but inspections and proper research of real estate PRIOR to purchase can help eliminate much of that risk. When was the last time you heard of real estate devaluating by 50, 75 or even 90% +? Can you say the same for stocks, bonds or other investments?
4Foreclosures are available in every market: Whether you’re living in a small town or big city, great economy or poor economy, foreclosures are available in nearly every area. Consult a REALTOR® for assistance in finding these great deals via the MLS (Multiple Listing Service) - the most comprehensive source for real estate available for sale.	5Distressed foreclosure property = less competition. Many buyers stay away from foreclosed property due to fear of the unknown. This creates a great opportunity to get a great deal on a property that with a little “sweat equity” can result in a great value.	6Foreclosures can be purchased for little to no money down. Whether you’re buying your first home or building a long-term portfolio of rental properties, mortgage monies are generally available to purchase foreclosure properties for little to no money down.