Foreclosures without auctions

If you want to find a cheap place to re-do with only 3 percent down, here is a possible avenue. I saw a house this weekend for $256,000 in Bushwick and found out the company deals only with foreclosures. Apparently you don’t have to deal with auctions. The house I saw required a 203K FHA construction loan (unless you were paying all cash). It was as-is, and the buyer had to pay the transfer tax, but otherwise seemed to the be the same as a regular sale as far as I could tell. It had a lot of cute details but needed a new plumbing system, boiler, probably an electrical upgrade, and maybe some new floors. The name of the company is Tom Marco Real Estate at(718)998-7100. I am a regular poster and have no connection to the company. This is not an advertisement.