Foreclosures
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 14 years ago,
- Flipper/Rehabber
- Kansas City, MO
- 750
- Votes |
- 734
- Posts
How to avoid closing costs on foreclosure?
I am currently looking at buying a foreclosure from Wells Fargo as my first investment property with the prospect of flipping the house. Is there a way to avoid dealing with a Realtor and dealing directly with Wells Fargo to purchase the property with cash?
The property I am looking at is approximately $15,000...I would like to offer about $12,000 in cash and avoid closing costs....
I am under the impression that on foreclosures, typically investors have to pay for the closing costs...is this correct?
Any advice on how to approach this? Do I have to use a Realtor to purchase the property or can I just go straight to Wells Fargo and make an offer?
I feel like I could potentially save a couple thousand dollars of unnecessary costs if that is possible....
Thanks for your help!
- David Robertson