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

3106 Newton Avenue, Indianapolis image
3106 Newton Avenue, Indianapolis $80,000

A solid home in an area of growth and changes with the new Justus Campus near by along with new apartments, businesses and the like. This darling gem is bigger than some ...

  • 2 Beds
  • 1 Baths
Courtesy of Artisan, REALTORS®

Listing courtesy of Artisan, REALTORS®.

5526 Yeager Court, Indianapolis image
5526 Yeager Court, Indianapolis $186,500

Don't miss this opportunity located in Franklin Twp on this 4 bedroom, 2 bath tri-level plus a finished basement behind a bookcase door containing 2nd living area, laundr...

  • 4 Beds
  • 2 Baths
Courtesy of Dollens Real Estate, Inc

Listing courtesy of Dollens Real Estate, Inc.

6506 Oakview Drive, Indianapolis image
6506 Oakview Drive, Indianapolis $228,000

Beautiful stone sprawling ranch in mature neighborhood with Pike Twp schools. 3 bedroom 2 bath with large fenced in yard. Original hardwood floors and large room sizes ma...

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

Listing courtesy of Elite Indy Realty Group.

2827 S Rybolt Avenue, Indianapolis image
2827 S Rybolt Avenue, Indianapolis $81,900

This 2 bedroom 1 bath home is within minutes of downtown and has excellent investment potential. The home has a stucco exterior and sits on 3 lots. There is an unlimite...

  • 2 Beds
  • 1 Baths
Courtesy of Witte Realty Group LLC

Listing courtesy of Witte Realty Group LLC.

3230 Brill Road, Indianapolis image
3230 Brill Road, Indianapolis $128,000

Amazing opportunity in great Southside location! Home features 2 bedrooms, 2 bathrooms, a 1 car attached garage, and 2 car detached garage. Inside you'll love the very fu...

  • 2 Beds
  • 2 Baths
Courtesy of RE/MAX Advanced Realty

Listing courtesy of RE/MAX Advanced Realty.

5770 Prestonwood Drive, Indianapolis image
5770 Prestonwood Drive, Indianapolis $195,500

Incredible value on this 4 Bed/2 Bath Split-Level home near Eagle Creek. Located in small, quiet neighborhood. Home has private back yard with open patio, storage shed & ...

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

Listing courtesy of Keller Williams Indy Metro S.

215 N Oakland Avenue, Indianapolis image
215 N Oakland Avenue, Indianapolis $244,900

Incredible FULL renovation on this Craftsman in popular neighborhood. Lots of nearby revitalization. Short walk to Purdue Polytechnic, Neidhammer's, Willard Park & all th...

  • 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.

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

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