How will you find "houses for sale cheap". Here listed is several ways to find and buy new forclosures , Cheap houses and bank owned repos for sale.

In today's economy many are curiousHow To Purchase Real Estate?They may even ask themselves if they should purchase real estate? How to buy a house ? Maybe a fixer upper? How to purchase a commercial building or apt building? Where can I find cheap houses that I can buy? Other good questions include how do I get a home mortgage? How do I know what property values really are? Should I look to buy for sale by owner houses or use a real estate agent to help me find a home. These are all valid questions , but the real question is are YOU prepared to buy a house or investment property?

Purchasing/Buying a house or property in today's market could be risky business. Buying property as an investment always has been. Buying a house you intend on living in is still a risk with home values all over the board and banks closing left and right. But , When it all shakes out buying a home may still be the best investment one can make. We all need a place to live , so in the end why not own your home instead of rent?

Purchasing a home/house , apartment building, can be looked at in a variety of ways. I have bought 11 properties over the years ranging from single family homes to small apartment buildings. I have used several methods to purchase and I have always been able to buy at a deep discount. The methods I have used are not the traditional ways of buying and selling homes, but it has worked for me and can work for you also.

I am only offering some suggestions in this article based on my personal experiences with buying real property. You may find some useful, as you may hear some information which is old news to you, all depending on your level of experience in buying and selling homes. Buying or investing in a house or property is a risk and should be evaluated by a professional before any final decision is made.

A Few Things I Suggest When Buying A Home In Any Economy

Keep in mind this is one way to find a good deal when looking to buy a house. It may involve getting your hands dirty or a little legwork. If this is not something you desire then consider enlisting a friend or relative to take on some of the work.

Always look for the worst house in the best neighborhood. Most have heard this before but I believe in this idea all the way no matter if you are buying as an investment or just a personal residence.

Look for the tell tale signs of neglect. This could be peeling paint , overgrown lawn , city ordinance postings or just appears to be vacant.

Write down the addresses of homes that fit this criteria and may be a good fit for you and your family. Remember we are looking for the best deal we can get. The home most likely will not appear as it will when you have completed any necessary repairs. This does require a little bit of vision. Once you have made a decent list of homes you are interested in, you can go to the courthouse (clerk of the court) to get information on the home owner. You can also check into your local county assessors office. The assessor will have information on home ownership , current liens and taxes. The assessor's office sometimes even has information on the last date of sale , price, and market comparisons for the property you are researching.

The next step is to contact these owners via phone or mail. I recommend having a folder where you keep information as in a brief description of property, so when a home owner calls you you are not caught off guard and can discuss the property intelligently. Don't ever make any decisions over the phone. Especially not on the first conversation. Get the information you need as in his version of repairs needed , current mortgage amount , interest rate , assumable or not? Dont be afraid to ask if the taxes are current, or if the mortgage is current. This is all information you can use in your negotiations to buy the home.

Once you have spoken to a few homeowners you will have a good idea which ones are in need of selling and could use your help. Take a second look at those properties and ask for an appointment or the right to enter the property. You can now make a list of repairs and also assess whether this is the house for you or not. In most cases you can get a licensed contractor to give you a free estimate. I suggest you bring him with you as he may be able to point out things that you do not see.

So if you believe you are ready to purchase a home, the next step will be to present an offer to the seller.

I suggest never offering over 80 percent of assessed value. As of 2009 I would not consider offering over 60%. As we mentioned before you can get the latest assessment at the county assessors office. You will also want some comparables form a local real estate agent.

You now will need to take your estimate for repairs(This must include materials and labor) and deduct it from 60% of the assessed value. You now have a price to make your offer at. Obviously this will not work if the mortgage balance is higher then the suggested purchase price. I am only trying to give you a business model which has worked for me. This does take effort but not as much as you may think. Once you have done a few of these offers and went through the process , you will see what works for you and where you can make adjustments to your strategy.

In my next hub concerning this subject I will discuss creative financing and the many applications of it especially in a bad economy.

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