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BLOGS::Items needed to purchase a foreclosure

If you are considering purchasing a foreclosure property there are a few essential items that will be needed prior to making an offer.  First off, you will need patience.  You will be required to have a pre qualification letter from you lender or proof of funds to purchase the property.  You will also be asked if this is going to be a primary residence, second home, or investment property.  You chances of getting a underpriced property without the home being your primary residence is slim due to the increase in deal seekers looking to purchase a full time home at bargain prices.  After you have a property under contract, be prepared for a lot of paperwork and the waiting game.  You can typically have a deal closed within 45 days.  If you have the patience all the items listed above you can get a great property. 



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