Real Estate investors target foreclosures in New Jersey as a fertile source of new projects. However, "buyer beware" since many times the seller of foreclosed homes have little information to share with buyers.
Investors, contractors, and other home-buyers will gather at the Sheraton Raritan Center ballroom in Edison on October 18, 2018 to bid and buy distressed properties being auctioned by One Day REO.
An expert’s single word of advice for folks who dream of buying a foreclosed house at auction: Don’t.
“I caution anyone who isn’t in the (real estate) business: Buying (at auction) can be one of the worst decisions you’ll ever make,” says Jim Hamilton, a Realtor in Los Gatos, Calif. Another bit of counsel from Hamilton: If you want to buy foreclosures at auction, plan on making that your full-time job.