I have showed this unit while it was a short sale, then it got took off the market. I just noticed that it came out as foreclosure on 2/29/2012. This is a Fanae Mae property, so it has the first look by homeowners for 15 days. This means that no investors can purchase in this time, only home owners are allowed to bid. This one bedroom unit has around 900 square feet and it is listed for $257,600 with a parking included. it faces south east, has a balcony. I think this is a great deal for a potential home owner. I do not think this property will last after the 15 days period.
Buying foreclosures can make the buyers to pay up to 6 months of owned assessment. This unit’s assessment is $327 per month, that means, the buyers might be obligated upto $1,962 additional assessment to the association. Plus the tax is prorated as 100% other than the 110%.