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

322 Eastern Avenue, Indianapolis image
322 Eastern Avenue, Indianapolis $109,000

Great investment opportunity! This home has newer siding, roof, and windows. The interior will need updates and repairs. The home has garage with alley access and larg...

  • 2 Beds
  • 1 Baths
Courtesy of Diverse Property Solutions Ind

Listing courtesy of Diverse Property Solutions Ind.

9034 Venona Way, Indianapolis image
9034 Venona Way, Indianapolis $264,900

Very nice 3 bedroom with 2 1/2 baths located in quiet neighborhood. Home shows well and is move-in ready with fresh paint and new floor coverings. The back yard has a pri...

  • 3 Beds
  • 3 Baths
Courtesy of Carpenter, REALTORS

Listing courtesy of Carpenter, REALTORS.

10426 Kensil Street, Indianapolis image
10426 Kensil Street, Indianapolis $264,900

This Kensington Commons home is move in ready with its fresh interior paint and new flooring! The home also offers a brand new dimensional roof which will keep you from ...

  • 3 Beds
  • 3 Baths
Courtesy of F.C. Tucker Company

Listing courtesy of F.C. Tucker Company.

6514 Woodmere Circle, Indianapolis image
6514 Woodmere Circle, Indianapolis $234,900

Large ranch style home on cul-de sac. Home has been recently refreshed with new paint and flooring. Very spacious with 4 bedrooms, living and family room, bonus room/offi...

  • 4 Beds
  • 3 Baths
Courtesy of Carpenter, REALTORS

Listing courtesy of Carpenter, REALTORS.

7949 Lawrence Woods Boulevard, Indianapolis image
7949 Lawrence Woods Boulevard, Indianapolis $354,900

It's tough to impossible to find a ranch home offering this square footage at this price!! With 2,208 square feet you're getting a spacious home offering a 20x12 front l...

  • 3 Beds
  • 2 Baths
Courtesy of F.C. Tucker Company

Listing courtesy of F.C. Tucker Company.

405 N Bosart Avenue, Indianapolis image
405 N Bosart Avenue, Indianapolis $80,000

Adorable traditional four square home in the heart of the Bosart Brown neighborhood. This home boasts beautiful hardwood floors throughout most of the home. 3 bedrooms wi...

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

Listing courtesy of Elite Indy Realty Group.

4630 Stratford Avenue, Indianapolis image
4630 Stratford Avenue, Indianapolis $219,900 ▼

Home has had extensive repair and updating. New siding, roof, and privacy fence around the home and extra lot are some of the features on the exterior of the home. New dr...

  • 3 Beds
  • 2 Baths
Courtesy of Ala Carte Realty

Listing courtesy of Ala Carte Realty.

11410 Arches Drive, Indianapolis image
11410 Arches Drive, Indianapolis $269,900 ▼

This spacious home is move in ready with the fresh improvements that were just completed! The exterior is inviting and well kept with the freshly painted trim and brand ...

  • 3 Beds
  • 3 Baths
Courtesy of F.C. Tucker Company

Listing courtesy of F.C. Tucker Company.

350 N Meridian Street, Indianapolis image
350 N Meridian Street, Indianapolis $324,950 ▼

UNIT "A301" -This is an amazing opportunity to own some history and live downtown near monument circle, the war memorial, university park and to enjoy all the great benef...

  • 2 Beds
  • 3 Baths
Courtesy of New Quantum Realty Group

Listing courtesy of New Quantum Realty Group.

819 E 49th Street, Indianapolis image
819 E 49th Street, Indianapolis $214,900 ▼

Great opportunity awaits you in this Northcroft Addition home with lots of upside. This corner lot is located close to amenities such as the historical Indiana State Fair...

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

Listing courtesy of Keller Williams Indy Metro S.

3302 Foltz Street, Indianapolis image
3302 Foltz Street, Indianapolis $45,000 ▼

Diamond in the rough. This one has been gutted. You can redesign and construct the inside the way you like once it's yours. Huge double lot combined as one with a 2 car...

  • 2 Beds
  • 1 Baths
Courtesy of New Quantum Realty Group

Listing courtesy of New Quantum Realty Group.

3211 Chase Street, Indianapolis image
3211 Chase Street, Indianapolis $94,900

Cozy 2 bedroom home on large lot in Perry township. Home features nice size rooms with some updates. The kitchen comes with appliances. Lots of potential as a personal ho...

  • 2 Beds
  • 1 Baths
Courtesy of Carpenter, REALTORS

Listing courtesy of Carpenter, REALTORS.

2027 Spruce Street, Indianapolis image
2027 Spruce Street, Indianapolis $129,900 ▼

**Investor fixer located on near southeast side in close proximity to Garfield Park** This 2 bedroom, 1.5 bath single family home is located on a double lot. Both Lot 58 ...

  • 2 Beds
  • 2 Baths
Courtesy of BLP Realty Group

Listing courtesy of BLP Realty Group.

9205 Selkirk Court, Indianapolis image
9205 Selkirk Court, Indianapolis $299,900 ▼

Check out this 4 bedroom, 2.5 bath home located in the highly rated Washington Township School District! This home provides a peaceful and welcoming environment while re...

  • 4 Beds
  • 3 Baths
Courtesy of RE/MAX At The Crossing

Listing courtesy of RE/MAX At The Crossing.

3018 Falcon Drive, Indianapolis image
3018 Falcon Drive, Indianapolis $184,900 ▼

Very nice updated home. Shows well with fresh paint and flooring. Great floor plan with big rooms and ample storage. Great yard with open patio and view of creek. The ove...

  • 3 Beds
  • 1 Baths
Courtesy of Carpenter, REALTORS

Listing courtesy of Carpenter, REALTORS.

Information Deemed Reliable But Not Guaranteed. © 2024 Metropolitan Indianapolis Board of REALTORS®

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