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Updated over 14 years ago on . Most recent reply
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- Flipper/Rehabber
- Kansas City, MO
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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
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