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What does 0bed/0bath mean in foreclosed homes?

I have been looking at foreclosed homes in nyc because I am moving there june 1, 09'. I have noticed that alot of the listings on all the sites I go to say 0bed/0bath. Can anyone tell me what this means? I know a 2000sq ft house does not have 0bed/0bath. Does anyone have advice on forclosed home buying?

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  • 1 decade ago
    Favorite Answer

    The 0bed/0bath thing just means that the data is not available at the time of print. There are definitely bedrooms and bathrooms.

    however, some advice... I would steer away from Foreclosed homes. Why?? Because normally you do NOT get to inspect the home before you buy it. You're buying it at a foreclosure auction and you may be able to drive by the home before going to the auction but that is it. In addition, you don't have time to find out if there are liens against the property. Sure, the mortgage may be gone, but who's to say if there isn't a 2nd mortgage attached?? perhaps there are legal judgements attached??? unpaid bills? Tax liens? There's a LOT that can be attached to the home in the form of Liens.

    Last but not least.... most foreclosed homes are trashed inside. The people who got foreclosed on, for whatever reason, think it's a good idea to sabotage a home when they're being evicted. These suckers should be thrown in jail but they still do it and you have to fix it up.

    I suggest this instead.... go for a bank-owned property. On Bank-owned, you are buying the house through regular means but the owner is the bank instead of a regular home-owner. When you buy the house, you're buying the title free and clear from liens since you work with a title company and are paying for title insurance with your regular closing costs. You will still probably have to fix up the home a bit as these can be like foreclosed homes that have damage from previous owners.

  • Anonymous
    1 decade ago

    There are rarely any bargains in foreclosure homes. The banks that own them will stall and stall on giving you an answer to your offer.

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