How to Buy US Foreclosures
320 Pages, Hardcover
Wiley & Sons Ltd
The ads are everywhere. US real estate at rock-bottom prices. Poshhomes in gated communities devalued 50% from a year ago. US realestate agents with nowhere to go in their own backyard aretargeting Canada and other countries to attract buyers to the landof the foreclosed and the home of the bushwhacked.
As the US housing market remains in crisis and foreigncurrencies increase in strength relative to the US dollar, foreigninvestment into real estate in America is reaching new highs,particularly in the sunbelt states. The opportunity to invest inthese properties, either as an investment property or a vacationhome, is made even more attractive in light of the record number ofdistressed properties (AKA foreclosures) on the market or in thepipeline due to high levels of unemployment in the US, highconsumer debt, and ongoing fallout from the subprime crisis.
But what does "opportunity" really look like? What due diligencemust an investor do to buy with confidence? What are the pitfalls?The legal and tax considerations? While the property and price maylook good on paper, how can you ensure that your investment is asound one? Philip McKernan and his crack team of experts teach youeverything you need to know about investing in distressedproperties in the United States, including sourcing distressedproperties; building the right team of real estate agent, financeexpert, lawyer, and accountant; understanding the tax and legalissues; and having an exit strategy.
Make sure you're getting the best deals possible and avoidingany nasty surprises. Be prepared and aware, with Fire Sale: Howto Buy US Foreclosures.