Expert, localized Los Angeles answers provided by Heather Roy

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Buying a Foreclosure

  I would like to buy a foreclosure in Fontana 92337 california. I am concerned for the buying price. It was selling for 360,000 as a foreclosure. My offer is accepted at 320,000, It was originally purchased for 560,000. I am uncertain if I should wait until the end of this year, or make my purchase sooner. Will this home drop under 300,000 with this current market?
 
  I have no idea what will happen and if I were you I'd just go ahead.  If you have a binding contract you'd be in some difficulty trying to get out of it anyhow.
    Edith
Originally published on May 1, 2008
 
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