FORECLOSURES

Foreclosures, or bank-owned homes, continue to offer buyers a once-in-a-lifetime opportunity to own a dream home. But not always. Before you decide on a foreclosed property, be sure you know what you're getting into. Some things to keep in mind about buying a bank-owned home:

  • Foreclosures are generally sold "as-is". It's imperative that you order a home inspection before you commit to buying a foreclosure so that you know exactly what repairs are necessary. This can save a lot of money and huge headaches down the road. You'll also need to have money set aside for necessary repairs.
  • Don't expect perfection. Foreclosed properties can be in rough shape, although not always. Be prepared to look beyond surface issues to the diamond in the rough.
  • Don't be afraid to ask. Although banks don't often agree to repairs or other concessions, sometimes it doesn't hurt to ask.
  • Research, patience, and persistence are important ingredients when purchasing a foreclosure. The help of an experienced real estate agent never hurts, either, since a good agent should be well-informed about the local real estate market and the foreclosure process.

RECENT INDIANAPOLIS FORECLOSURES

5950 E 56th Street, Indianapolis image
5950 E 56th Street, Indianapolis $365,000

This 4 bed, 2.5 bath home with over 4200 sf of space. The home is located on large lot with access to major street. Home needs some work and updating. A lot of potential....

  • 4 Beds
  • 4 Baths
Courtesy of The Virtual Realty Group

Listing courtesy of The Virtual Realty Group.

2235 N Broadway Street, Indianapolis image
2235 N Broadway Street, Indianapolis $219,300

Incredible Victorian opportunity in the Near Northside district which boasts new construction, beautifully restored homes & rich Indiana history. Just minutes from downto...

  • 4 Beds
  • 2 Baths
Courtesy of Keller Williams Indy Metro W

Listing courtesy of Keller Williams Indy Metro W.

2413 N Centennial Street, Indianapolis image
2413 N Centennial Street, Indianapolis $84,500

Great rental opportunity on the West side of Indianapolis. Located in the heart of Kessler Park you won't want to miss this cute two bedroom 1 bathroom featuring a massiv...

  • 2 Beds
  • 1 Baths
Courtesy of Elite Indy Realty Group

Listing courtesy of Elite Indy Realty Group.

1953 Bridgton Court, Indianapolis image
1953 Bridgton Court, Indianapolis $104,900 ▼

2 story condo with 2 bedrooms, 1-1/2 baths, a partially finished basement and a garage. Private deck that is perfect for relaxing and entertaining. Water and sewer incl...

  • 2 Beds
  • 2 Baths
Courtesy of Keller Williams Infinity

Listing courtesy of Keller Williams Infinity.

6712 Blackthorn Drive, Indianapolis image
6712 Blackthorn Drive, Indianapolis $259,900

Beautiful home is ready to move-in and enjoy! Desirable split bedroom floorplan for privacy. Handsome corner property and well landscaped grounds, together with big foyer...

  • 3 Beds
  • 2 Baths
Courtesy of Jeneene West Realty, LLC

Listing courtesy of Jeneene West Realty, LLC.

1538 Ringgold Avenue, Indianapolis image
1538 Ringgold Avenue, Indianapolis $46,900

Great opportunity to build your own home or investment property. This vacant lot is within blocks of Fountain Square. There is also a vacant lot next door and a partial...

Courtesy of Witte Realty Group LLC

Listing courtesy of Witte Realty Group LLC.

4526 Lesley Avenue, Indianapolis image
4526 Lesley Avenue, Indianapolis $169,900

Here is a great one story home in an excellent Indianapolis location. 3 bedrooms, 1-1/2 baths, attached 1-car garage and a full basement. Great layout with hardwood floo...

  • 3 Beds
  • 2 Baths
Courtesy of Keller Williams Infinity

Listing courtesy of Keller Williams Infinity.

1019 S Roena Street, Indianapolis image
1019 S Roena Street, Indianapolis $69,900 ▼

2 bedroom 1.5 bath home in Wayne Township. Hardwood fllors in some rooms. Oversized detached 2 car garage. Property has many mature trees. Archways throughout, separate u...

  • 2 Beds
  • 2 Baths
Courtesy of Ala Carte Realty

Listing courtesy of Ala Carte Realty.

9817 Marina Village Drive, Indianapolis image
9817 Marina Village Drive, Indianapolis $599,900 ▼

3 bedrooms, 2 full baths, 2 half bath and 3,154 sqft. Living room includes built-in bookshelves and a gas log fireplace. Located off the living room is a walk-out second ...

  • 3 Beds
  • 4 Baths
Courtesy of RE/MAX Real Estate Groups

Listing courtesy of RE/MAX Real Estate Groups.

222 W Edgewood Avenue, Indianapolis image
222 W Edgewood Avenue, Indianapolis $289,900

Rare 3 car garage, new paint, floor covering, heat pump/ac, 2 family rooms or use as a living room and the other as a family room. Dining room and kitchen combo. Kitchen ...

  • 3 Beds
  • 3 Baths
Courtesy of Carpenter, REALTORS®

Listing courtesy of Carpenter, REALTORS®.

1941 E Edgewood Avenue, Indianapolis image
1941 E Edgewood Avenue, Indianapolis $189,900 ▼

Here's a clean 4 bedroom ranch home sitting on a large .6 acre parcel! This home just received a new roof, some windows, flooring, interior paint, some lighting, tiled s...

  • 4 Beds
  • 1 Baths
Courtesy of F.C. Tucker Company

Listing courtesy of F.C. Tucker Company.

2803 Indianapolis Avenue, Indianapolis image
2803 Indianapolis Avenue, Indianapolis $235,000 ▼

Chase grant available for this address anywhere from $2500-$5000. Priced to sell! Newly and completely renovated single family home. This great family home or investment ...

  • 3 Beds
  • 3 Baths
Courtesy of Highgarden Real Estate

Listing courtesy of Highgarden Real Estate.

2943 N New Jersey Street, Indianapolis image
2943 N New Jersey Street, Indianapolis $99,000 ▼

Investors, step right up! Take over this project in bustling Mapleton Fall Creek area. This two story home is a shell ready for the finish line. Much of the heavy lifting...

  • 3 Beds
  • 2 Baths
Courtesy of Keller Williams Indy Metro W

Listing courtesy of Keller Williams Indy Metro W.

3445 Graceland Avenue, Indianapolis image
3445 Graceland Avenue, Indianapolis $115,000

Charming 2BR/1BA home that is perfect to add to your rental portfolio! Located in an appreciating area along Mapleton-Fall Creek redevelopment project area. Don't miss ...

  • 2 Beds
  • 1 Baths
Courtesy of Matlock Realty Group

Listing courtesy of Matlock Realty Group.

914 Harlan Street, Indianapolis image
914 Harlan Street, Indianapolis $124,900 ▼

POTENTIAL POTENTIAL POTENTIAL, This project home is looking for an investor or future home owner to come in and spruce the place up. Currently a 2 bedroom 1 bath this hou...

  • 2 Beds
  • 1 Baths
Courtesy of Knight Realty Group

Listing courtesy of Knight Realty Group.

Information Deemed Reliable But Not Guaranteed. © 2023 Metropolitan Indianapolis Board of REALTORS®

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