New Orleans Condo Foreclosures. Can they be good buys!
October 7th, 2009 categories: Condo Knowledge
There are not a lot of New Orleans condo foreclosures in this market at this time but they are beginning to show up. There are only a handful of places worth considering at the present time. One thing you will need is patience and the time for the bank to get things in order. The banks act like they could care less about customer service or doing things in a timely manner. It becomes a nightmare unless you can wait them out.
Much of the time the condos will need work as they may not have been taken care of. Many times the Banks will sell it like it is at a reduced rate or update it to get sold. It all depends which way you want to go. Most people do not want to do work so if you are able the price becomes much better. This is where you can build sweat equity either by doing it yourself or having someone do it for you. This is a risk feature that can work in your favor.
