VIDEO: Still Safe To Buy Foreclosures?
There are currently more than 1,100 foreclosure listings within the city of Portland. That’s about one in every five listings. Similarly, a substantial share of sales – roughly one in five as well – are either bank-owned or a short sale.
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Will this trend continue, or are buyers likely to back off with all the questions about allegedly improper foreclosure paperwork cropping up in the past few weeks. Many prospective and past foreclosure buyers are now wondering how safe it is to buy a foreclosure.
In this brief video, RealtyTrac Senior Vice President Rick Sharga addresses that question as it specifically relates to buying during each stage of the foreclosure process — pre-foreclosure (short sale), courthouse auction (trustee’s sale or sheriff’s sale), and bank-owned (REO).
