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Portland Foreclosure Homes – Benefits and Buying Guidelines

Portland is the 29th most populous city in the northwestern United States, in the state of Oregon. Foreclosure homes in Portland have several advantages, such as lower costs than the market price and the city’s main attractions make them a lucrative purchase. Following certain guidelines can make the process of buying foreclosed homes in Portland easier.

Advantages

Discounted Prices – Portland foreclosure homes are available at a 30-50% discount due to the nature of the foreclosure process, where banks and the government are not interested in making a profit but in recovering their taxes or loan amount.

Do-It-Yourself Youth Culture Lynx – Portland is a major zine manufacturing center and is home to zine dealers such as Microcosm. The area’s artisan community hosts events such as the Crafty Wonderland and the Church of Craftsmanship.

Entertainment – Television programs such as “Under Suspicion” and “Leverage” were filmed in Portland. A number of theaters serve beer here. One of these beer and drama theaters here is the Baghdad Theater and Pub. Some recent movies like “Body of Evidence” and “Untraceable” were filmed here.

Performing Arts – Portland has several performing arts institutions such as the Oregon Symphony Orchestra, the Portland Opera, and the Portland Baroque Orchestra.

Tourist Attractions – The Oregon Museum of Science and Industry (OMSI), the Portland Museum of Art, the Rose Festival, the Dragon Boat Race, the Oregon Zoo, and the World Forestry Center are some of the city’s main tourist attractions.

Portland’s many advantages make buying foreclosed homes here a worthwhile proposition.

Guidelines for Buying a Foreclosed Home in Portland

Subscribe to listings – Online foreclosure directories are updated regularly and provide a complete listing of all foreclosure items available in Portland. Subscribe to these listings, which are available for a small fee, to obtain the homeowner’s contact information.

Shortlist – Try to select some properties from the foreclosure lists based on your needs and budget.

Personal Visit – Visit the area in person to see if repairs are needed, if neighbors live nearby and what utilities are available nearby. Check the prices of properties in the neighborhood.

Hire an Appraiser – Hire an appraiser to determine the actual value of the property before you buy directly in the pre-auction phase or bid on an auction.

Hire an attorney – Hire an attorney to review the documents before negotiating and making the final payment.

Buying homes in Portland prior to foreclosure is very beneficial because of the reduced costs and major attractions of the city, and if the proper guidelines are carefully followed, the entire process of buying homes in Portland prior to foreclosure can be done easily.

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