Questions & Answers

Utilities; who pays heat, water, bills. Safety (is it well lit so that you can walk around outside at any time?). How much interaction with other renters. How noisy are other renters. Is there a local law enforcement website that provides details of any criminal activity that may have occurred at or near the place you are considering. The term of the lease: 12 months, 6 months...Who is the property manager? Can that person be called upon for emergencies, i.e., busted water pipe late at night; no heat in the dead of winter...lost keys. Respect for you and your property when repairs have to be made.

Yes it's risky---you must trust your agent Don't leave your home entirely empty Have the first room they enter have a few furnishings--leave window treatments Renting it out might make more sense with this horrible real estate market--but long distance renting is risky too--consider renting it for Sept/Oct if it doesn't sell.

Yes and no. No one can compel you to get to the closing table, but the buyer can sue for specific performance and they will win. You will have to pay damages for not completing the contract. This hasn't been done much, but in this litigious society, I wouldn't be surprised if you are served with a summons.

They are the same thing. A repo has already gone through the foreclosure process. Foreclosure is the term used when the process is happening. Both can be great deals. Just make sure you have a title search done & get title insurance to make sure you don't find out 5 years later than there is an un-paid lien or taxes due.