why are foreclosure listings so expensive?

Question

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.

Answer 1

Favorite 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.

Answer 2

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

Answer 3

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

Answer 4

Cause Azzes like us want a home at any cost and most people dont read.