Looking for advice about buying a foreclosed home
We live in a co-op in queens, and have a little over $200,000 in equity in the home we live in. We need to get a bigger place to live, and I'm thinking about trying to buy a foreclosure or short sale or something like that to get a better deal. I'm thinking about using a hard money loan to buy a home on foreclosure and pay for repairs. Then sell our current home and refinance the new (previously foreclosed) home to pay off the hard money.
I would be interested in speaking to any agents who are familiar with this type of thing, and any lenders and/or contractors who would be interested. Or if anyone has any tips or advice.
I never bought a foreclosed home before, so I would also just like more information on how the who process works. If anyone can like a good video that explains the process, that would be very helpful too.