Orginally Posted on ActiveRain.com by Kim Peasley-Parker
Buying a Foreclosed Home in Sumter, SC Part 6
Breaking Even, Making Money or Having Instant Equity
In the last post about buying foreclosed property in Sumter, SC, I wrote about the most common reasons buyers purchase a foreclosed home. The “flipper” is normally the investor who wants to buy the property at the lowest price possible and then make improvements and sell for the highest price possible. The “owner occupant” and the “investor” are two buyers that are still looking for a good deal, but they are not as concerned with making the necessary repairs and improvements and reselling the house as quickly as possible. ...
Last week the posts were about making the offer and then accepting the counter offer from Fannie Mae. Moving forward in the buying process is the ten days inspection period. During this inspection period, the buyer may have the property inspected for any of the types of inspections listed below. Since this is a foreclosure the buyer is responsible for all the inspection costs. 
If you read my 
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