CENTURY 21: The Gold Standard

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Can you buy homes below market?

The typical home buyer looks at three to five houses before buying. The investors who consistently make bargain purchases consider far more properties for every one they buy from about 50 to about 1,000.

Several approaches to buying property below market value:

• Buy a house thatís due to be torn down, move it to a new lot, and resell. Carefully done, this technique often produces a property which is worth twice what it costs to buy a resale home.

• Interests in real estate which are less than 100 percent fee-simple often sell at enormous discounts. Tenants in common are an example. Sometimes, the owners of tenant-in-common interests want to sell or are forced to sell.

• Life and remainder estates are another way.

• Home-builder leftovers. When home builders put up a housing development, they almost invariably end up with a handful of hard-to-sell houses. Finding these unusual deals is a challenge. It takes a great deal of research and determination.

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