Alabama Foreclosure Homes and Those Great Deals in Dixie

By: philip smith

Make a choice between an urban or a rural setting for your proud purchase from among the jewels in Alabama Foreclosure Homes.

Alabama is blessed with economic growth, stable home prices, a low cost of living, and excellent value in very affordably priced homes. The rate of foreclosure filings, although up on last year, is well below the majority of other states, and finding the best of these discounted properties may take you a little time. Especially if you have a longing to move into one of those best cities to be-in the state according to some polls; Helena, Alabaster or Birmingham.

A dream home in Dixie is well within your reach. Average foreclosures sales price is around $67,000 right now, with best in the land savings recorded around 40%. Never has your first investment been so affordable, or so promising to profit!

The pre foreclosure period in Alabama is short, a foreclosure action through the courts rare, and will take between 2 to 3 months only until the sale at the courthouse. If you hanker for a property already under notice of auction sale, make sure your financing is in place before you talk to the seller, who at this stage is the borrower in default. If you don't have access to the cash, get the details of the default amount from the same excellent listings service that showed you the foreclosed property currently available in Alabama., check out other liens, and if there is some equity in that perfect place, consider assuming the loan in question.

Be aware of Alabama foreclosure law before you contemplate bidding at auction; the borrower has a right to redeem for up to 12 months.

Should you miss both opportunities by design or bad luck, cast your net a little further and seek out the big fish for southern frying in real estate owned Alabama foreclosed homes.

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