Foreclosure Homes
Foreclosed homes on the market are typically selling at or higher than the price of non-foreclosed homes in some states, including Connecticut. These foreclosures sometimes even sell at around the same time frame!
In the past, it wasn’t unusual to see foreclosed homes taking an extended amount of time to sell, compared to non-foreclosed homes. The amount of paperwork involved in selling a foreclosed home is lengthy, which caused the extended closing period. Nowadays, as more states and banks are getting caught up with their backlog, these homes tend to close in and around the same time frame as others.
That being said, those that think there are numerous deals to be had might be incorrect. However, there are still a few out there if you are patient and do your due diligence in researching property and market values.
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