|
Question: Is it possible to buy a home below market price?
Answer: Certainly, but do not hold your breath. It takes a lot of determination and time to find a real bargain. But if you are adamant, here are some likely targets to pursue:
- foreclosed property
- a fixer-upper
- hard-to-sell new homes in a housing development
- tenant-in-common partnerships.
With the latter, you may be able to buy a partial interest in this form of title to property owned by two or more individuals because the partners often sell at a discount. However, bargains are easier to come by in a soft real estate market, when the economy is in a recession, and when homeowners, and builders and sponsors of condominium conversions, are desperate to move unsold units.
Questions About Buying a House
What are the first steps to buying a home?
What are some negotiating tips?
What contigencies should be put in an offer?
Is it possible to buy a home below market price?
|
