For people who are looking for affordable houses and are on a tight budget the answer is to look for foreclosed HUD homes at cheap prices in Berkeley. Berkeley is located on the east coast of the Bay of San Francisco in North California. Emeryville and Oakland are its neighboring towns. This is a politically liberal city and one of the studies puts it at the third most liberal city located in United States. For homes which are within the common man’s reach the best bet are the foreclosed auctions. The properties which are confiscated are sold at foreclosure auctions and other property auctions at prices which are quite unbelievable, and far below the market value. There are regular auctions held in Berkeley and other cities in the country with HUD homes at cheap rates. Some auctions are held on an annual or semi annual basis, while others are held as often as every month or once in a quarter. However if you want to buy a foreclosed home cheap you must ensure that you buy the right home and do not end up paying more than its worth depending on its location and condition.
Locate foreclosed homes
The easiest way to do this is with an online search on the internet. Put all the details down like the area and location, the size of the house, the approximate number of rooms and accommodation you require and also your budget. You will have hundreds of homes which fit the description of your ideal home showing up and you can go through other details and maybe even have a look at them before your decide on the one which suits you the best. You could also go through real estate listings auctions to look for properties and homes. If you want to save yourself the trouble of going through an auction and bidding for your property you will have to get to the property before it is handed over to the auctioneers. For government foreclosures you would have to go to the department which deals with foreclosures and find out about homes which are going to be put up for auction soon. You could even get information on homes which have their mortgages pending from banks which have loaned the money to the owners to buy these homes and are now planning to foreclose them and put them up for sale at various local auctions.
Do some research on the property before bidding
Thought he prices of real estate only escalate with time, it is always better to play it safe and check out the condition of the house before you buy it. Take along an expert to evaluate the property, and also check it for any hidden damages, which will make it impossible to live in the home before doing considerable repairs. The plumbing, electrical wiring, wood work and structure should be checked out properly before you decide to buy the house and also put a price on it.