Tips to Fix Up a Foreclosure (Without Breaking Your Budget) #MABA #Massachusetts #RealEstate #FirstTimeHomeBuyers

by | Oct 31, 2022 | Boston Real Estate Market, Cambridge MA Real Estate News, First Time Home Buyer, First Time Home Buyers Advice, Home Buyers, Home Prices, House Hunting, Lowell MA Real Estate News, MABA, Mortgages and Mortgage Loan News, Newton MA Real Estate News, Real Estate Law, Real Estate Market

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Tips to Fix Up a Foreclosure (Without Breaking Your Budget) #MABA #Massachusetts #RealEstate #FirstTimeHomeBuyers

Tips to Fix Up a Foreclosure (Without Breaking Your Budget) MABA Massachusetts RealEstate FirstTimeHomeBuyers

Maximize your profit by flipping a foreclosure home with these cost-effective, buyer-friendly tips.

With the economy still reeling, home foreclosures are at an all-time high. A foreclosure is a terrible thing for most people, but a savvy investor can turn an unfortunate situation into a tidy profit. Often a foreclosure home is in need of TLC — after all, if the owners couldn’t make their mortgage payments, they likely weren’t keeping the property in the best condition either.

Your Goal:

Make potential buyers feel comfortable by updating the house in line with the rest of the neighborhood. But be careful not to spend too much, or you’ll leave your profit in the house. A good rule of thumb is to invest in improvements that will add at least twice their cost to the home’s value. Here are seven ways to get the most return for your money.

Look for Red Flags

Before signing on the dotted line, hire a home inspector to give the place a thorough evaluation. An inspection may cost……….
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Changes in Massachusetts Real Estate Law & How they Effect the Consumer:

 

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