Mortgage foreclosures in Harris county and Montgomerry county texas

[Arjun Epu]

HI All,

I am looking forward to buy mortgage foreclosure properties in Harris county and Montgomerry county texas. I have been to the auction house and didn't see things very organised unlike tax foreclosures. i would like to understand from experts who have won few houses and your experience in handling them. i have got a list from foreclosure websites and working on running title search on few of them for now. let me know what are your best experiences and strategies and what to expect on the purchase price vs ARV.

[Rick Pozos]

The problem is that you do not know the condition of the house. You can not see the inside of the house. The outside could look great and then the house is gutted on the inside. OR it could look great if you peek in the windows(I would not suggest that, the homeowner could still be living there and call the police on you), but when the people get foreclosed on maybe they take the air conditioner with them. Maybe they take some or all of the cabinets. Maybe they pour concrete down the toilet. 

That is your risk buying at the foreclosure sale. You just don't know what the condition that the house might be in when you take possession of it.

The other thing is that you dont know WHEN you might get possession of the house. The people in the house might have to be evicted. AND THEN they might do damage to the house. Something to think about.