Foreclosures 

Buying a Foreclosure

9 Steps to Buying a Foreclosure in Albany, Guilderland, Colonie, and the Capital District of New York.

1. Understand the foreclosure process for Albany, Guilderland, Colonie or the Capital District of New York.  A foreclosure is a process in which allows the lender of the property in Albany, Guilderland, Colonie, and throughout the Capital District of New York to recover the amount owned from the defaulted loan.  This begins when the lender borrower defaults on the loan and the lender files a notice of public notice of default in Albany, Guiderland, Colonie, or in the Capital District of New York.
2. Choose a foreclosure stage you are confortable.  There are different stages when buying a foreclosure in Albany, Guilderland, Colonie, or the Capital District of New York. 
3. Contact the Select Homes Team.  The Select Homes Team will be a helpful resource as well as guide you through the entire process of buying a foreclosure in Albany, Guilderland, Colonie, and in the Capital District of NY.
4. Find Financing.  It is important to receive a prequalification letter stating you are able to afford up to a certain amount, when buying a foreclosure in Albany, Colonie, Guilderland, or the Capital District of New York.
5.  Find foreclosure properties.  The Select Homes Team can send you a list of foreclosures in Albany, Guilderland, Colonie, and in the Capital District of New York.
6. Check property leins.  A  lein is a legal claim on the property.  This could  be from the lender or other enties owed by the borrower. 
7. Do the Math! Find out how much it will cost to fix up the foreclosure in Albany, Guilderland, Colonie, or the Capital District of New York.
8. The Select Homes Team will go over state requirements when buying a foreclosure in Albany, Guilderland, Colonie, or in the Capital District of New York.  Please note each state has there own foreclosure laws.
9. Make an Offer!