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Tips for bidding on foreclosed properties

The best time to look at foreclosures and submit an offer to purchase may be right after a snow storm.  Many cash investors are also in the snow removal business.

Trying to compete with a cash offer on a foreclosed home can be difficult, unless you can provide a substantial down payment.  Asset managers generally will take a few days to make a decision, and provide a written contract to sell the property.  A major snow storm may help to reduce the competition when bidding on the best foreclosed properties on the market.

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