Winston Salem, NC Foreclosure Listings and Properties

With prices of everything escalating and being beyond reach it is almost impossible to own a new home, for affordable house look at the Winston-Salem Foreclosure Listings and Properties. You can get some really good deals at the government foreclosures in Winston-Salem which is in North Carolina. This city has some of the highest office buildings in the state and also an outstanding municipality. It has also derived its nickname from the popular cigarettes and is called the “Camel City”. Winston-Salem is home to the distinguished Forest University and also to the State University. With the high cost of life in Winston-Salem like it is in every other part of the country in today’s period of financial recession foreclosure homes are becoming more and more popular.

Affordable homes at tax foreclosures

It is difficult for people to be able to afford a home with the high prices, but there are good homes available at foreclosure auctions. These homes are being sold at discounted prices because of non payment of taxes or loans which were availed of to buy these properties from banks. If you are looking for affordable homes you can look for tax foreclosure homes through real estate agents or on the internet. An online search for homes in your area or in any other part of the town can be found with a search on the internet. When owners fail to pay their taxes their properties are confiscated by the government and resold to others to recover the amount which is pending by way of taxes. The new investors get these properties real cheap because the government is really not interested in making a profit but in recovering the tax amount which is due. The homes are sold at prices which are as low as 50% off the market value and this means a major gain for the new buyer.
Finding foreclosure properties

These tax foreclosure properties are sold at property auctions and to buy them you would have to bid for them at these auctions. To search fro these homes you can do an online search mentioning the place where you wish to buy the property, the size, structure and other requirements and also your budget. This will help in your getting listings of properties which are according to your requirement and also within the specified range and you do not waste time going through hundreds of listings which are not relevant to your needs. Properties which remain unsold at these auctions are taken over by the government and are then real estate properties on tag.

Certain precautions to take with foreclosure properties

While going through the real estate listings Auctions you will shortlist homes which you find suitable. Once you have done this you must look into the structural quality and see if there are any defects in the plumbing system, the electrical wiring, the walls and paint, the flooring and the woodwork. While you do this research on the property you can envisage how much damage there is and what the approximate cost of repairs will be before the home is made livable. So make sure you take an expert along with you who can assess the condition of the property and give you a quotation for the repairs. Whatever price you pay for the property this amount will have to be added to it, because this is what your home is finally going to cost you.

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