Since Albuquerque foreclosures are second hand properties some level of damage should be expected
. But this becomes insignificant when you consider livability. The city is always at the upper portion of lists and rankings when it comes to the quality of life it offers. This is particularly advantageous to buyers as you cannot really put a price tag on livability. Plus buyers should always consider location first over price especially if they plan to live in the place.
Living in Albuquerque foreclosures is likewise highly desirable as the city has been known to take a sold stance on protecting the environment. The city favors energy efficiency and take pains in maintaining its fabulous surroundings. A move to the city can constitute a pledge to support environmentalism.
The Internet is a great source of information on distressed properties in Albuquerque. You can find sites that can be searched by price, location, home type or foreclosure type. These homes are sold either through an auction or you can find them in various lists held by realtors, banks and other lending institutions and even the housing authority.
Securing Your Home and Safeguarding Your Investment
Except for auctions where you pay cash outright, other types of foreclosure sales accept financing so it is best to get a loan pre-approval from any bank or lender. This way you will know how much you can borrow and choose a home accordingly. A good credit rating will positively impact the amount of loan you can take out so make sure you do not have outstanding loans.
Once you have come up with your short-list of homes you wish to closely consider, there are two important tasks to accomplish to ensure you are making a sound investment. These are the home inspection and the title search. Asses the cost of repairs and uncover hidden taxes, holds or liens still attached to the title of the property. This will give you a better idea of the real value of your Albuquerque foreclosures. Banks will always offer a title insurance so the title search can be foregone.