The DiMora Team are real estate experts in the Northville and Novi neighborhoods and we have seen some buyers interested in buying a foreclosed property. It is true that these properties can be priced at a significant discount, but they are also a much riskier investment. Before making an offer on a foreclosed property, do your due diligence. Check for a second mortgage – you don’t want to be surprised by an extra mortgage that you will need to pay. Know how good of a “bargain” you’re getting – foreclosures are sold “as is” and in many cases you will not be able to do a proper inspection. You may end up paying thousands of dollars repairing the property before it is fit to be lived in. Check for liens – find out if there are any liens against the property because you will be responsible for paying them. Check out below to see what sold in Northville Colony Estates in November 2017:
42248 Sunnydale Lane, Northville: 4 bedrooms, 2 bathrooms, 1,976 sq. feet, 2 car garage, Sold Price: $275,000
Northville Colony Estates Home Sold
November 2017
42251 Old Bedford Road, Northville: 4 bedrooms, 2.1 bathrooms, 2,185 sq. feet, 2 car garage, Sold Price: $344,000
Northville Colony Estates Home Sold
November 2017
Its also important to do a title search – make sure that when you purchase a foreclosure that you are the only person who has any ownership claim. For more information on Northville Colony Estates, or similar Northville or Novi neighborhoods such as Lakes of Northville, Orchard Ridge Estates and Roma Ridge, contact The DiMora Team today at 248-505-7728 or jim@dimora.com.