why are foreclosure listings so expensive?
They all offer 7 days free trial but then charge upwards of $40 / month, with additional charges for additional information. It all feels like it's nothing more than a big bait and switch type ripoff.
- kmankman4321Lv 41 decade agoFavorite Answer
it is. what, did you expect something for nothing? the banks own the foreclosed properties and they arent going to sell them at much below market value if they sell below market value at all. i have bought 4 homes from hud that were pretty good deals and the hud website is free.
- Jilli BeanLv 51 decade ago
They charge so much because you can get such a great deal if you're really ready to jump on a deal. You can get a place sometimes 20% below market value which is instant equity. But you have to be ready to buy instantly. There's no time for pondering it. It'll be gone, someone else will buy it. If you're a new investor it's not the right market for you. The forclosure market is good when you have money to put in and are ready to flip it.Source(s): I'm a RE Investor
- 1 decade ago
My best guess is because the property was overpriced to begin with then a 2nd mortgage taken out against the property. the bank is trying to get what was owed to them
- Anonymous1 decade ago
Cause Azzes like us want a home at any cost and most people dont read.