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Foreclosures in Huntsville AL

List of Distressed Property in Huntsville AL and surrounding area

Below is a list of distressed properties and foreclosures in Huntsville, Madison, Hampton Cove, and the surrounding areas in North Alabama that have been entered into the Multiple Listing Service. There are additional lists that I occasionally have access to prior to their listing in the MLS database, so register with the form below if you’d like to receive emails for unlisted foreclosures. Scroll down below the list of homes for more information about distressed properties.

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Distressed Property Email List Signup

If you’d like to receive an email list of foreclosures and other distressed property, fill out this short form. I occasionally have access to property lists prior to their entry into the MLS database.

Distressed Property Email List Signup

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About Foreclosures in Huntsville AL

Foreclosures, or more generally, distressed properties, can be excellent buying opportunities. A distressed property is under a foreclosure order or is advertised for sale by its mortgagee. There’s more paperwork involved in purchasing a distressed property, but the reward can be a purchase price well below market value. I have the experience and the connections to make purchasing a distressed property a tremendous value to you, whether you’re looking to buy as an investment (in order to flip or for rental), or if you’re just a home buyer looking to maximize your purchasing power.

Are Distressed Properties Always a Good Deal?

You should be aware that distressed property is sold by banks or by HUD, and the price is set based on an attempt to recover a debt, not on market realities. The bank or HUD price has little to do with what current market prices are, so it may be a tremendous value, or it might be a sour deal for the buyer. Let me do a market assessment for you before making an offer on any government or bank-owned property.

Buyer Beware

Foreclosed homes are sold directly by the bank or by HUD, and are always sold “as-is”. Don’t expect a general warranty deed, but a much more limited “special warranty deed”. Also, banks and HUD will not negotiate based on the cost of needed repairs, so you should expect to need to invest as much as an additional 10% of the purchase price into repairs. Be prepared to pay for a home inspection if you’re not personally qualified to assess the required repair (or finishing) costs.

Distressed Property Moves Fast

Even with all the risks and special considerations, distressed properties sell much faster than other property. In today’s market it’s typical to see houses on the market for several months, but foreclosures typically sell much faster, due to the demand from investors and savvy home buyers.  If a foreclosed home is what you’re after, make sure you’re pre-approved for the full purchase price. Pre-approval is a requirement to submit an offer on any foreclosed home. I can put you in touch with a lender that can make pre-approval happen very quickly.