A property seized by a bank to sell and recover its unpaid loan by the owner is known as a distressed property. The Indian real estate market has a limited number of distressed properties. Here are some tips for buying distressed properties: 1. Get preapproved for a mortgage, 2. Find an experienced agent, 3. Get a professional home inspection, 4. Be ready to make repairs, 5. Know your state foreclosure laws, 6. Have cash on hand, 7. Use your lender appraisal strategically, 8. Be ready to make a (Serious) offer.
