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Shopper's Market: Money-saving tips for home buyers

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  • Description

    Ins and outs of purchasing a foreclosed house

  • Duration 1:35
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The housing market may still be struggling to gain solid footing.

But low interest rates and significantly.

Discounted prices make it a great time to purchase a home in most regions.

The average savings right now -- -- foreclosed homes about 27% vs the non distressed properties now in some markets you could say forty if not upwards of 50%.

Financial expert -- Gibbons says this get the auctions your first that should be a web site -- zillow.

You don't have to -- the courthouse you don't have to look -- legal filings he does -- have to find out.

The good it was at that actually lists these properties and scan and search.

Working -- the real estate agent will save you time and aggravation.

They're gonna help -- with the contractors with the inspections and sort of walking through the entire process which is a particularly good way to go particularly if -- working in a lot of people jumping this game our first timers.

Many foreclosed homes have been sitting vacant for long periods of time budget for plenty of repairs and renovations.

With -- after the bank it's going to get to the U.

He really have to budget for these renovations and -- repairs accordingly because it could be significant.

When it comes time to -- given says banks won't budge much on foreclosed properties.

You won't have a lot of with a -- terms -- price to thank wants to sell as is -- their price but you may be able to negotiate a little bit.

Based on a couple of different factors.

Also consider the condition of the property the surrounding neighborhood and get your financing preapproved.

Before you make a bit.

In New York Brenda Buttner Fox News.

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