When you’re looking at buying a house, whether it’s your first home or not, you have a lot of options. And regardless of whether this is your first house, or your second, or beyond, the process is still a daunting one. Homes cost a lot of money, and they take time to close on. That’s on top of the amount of time that you’ve already spent looking at a house.
So, you’ve heard about bank-owned homes, and you’ve heard that buying a bank-owned home can be just as easy as buying a privately owned home. After all, a bank-owned home is a foreclosure that wasn’t sold at auction. Now, the bank just wants to get rid of the house and be done with it. Right?
In a manner of speaking, yes. But that’s not entirely true. Of course the bank wants to sell the house, but…