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Livonia Foreclosures For Sale

View today's Livonia foreclosures & Livonia real estate below. Learn more about Livonia condos, Livonia luxury homes, and Livonia new construction homes by accessing our easy-to-use search tools, or connect with one of our experienced real estate agents, who can provide you with insider information about the foreclosure housing market, arrange for private showings, and help in defining your home search based on your needs and your lifestyle. For more information about Livonia Michigan properties for sale or to schedule a private home showing, contact your local Livonia real estate experts today.

Foreclosed Homes For Sale in Livonia MI

New Listings First
2 Properties Found.
Homes for Sale in Livonia, MI
  • MLS® #: 219045755
  • 36757 Marler St
  • Livonia, MI 48154
  • $247,000
  • 3 Bed, 2 Bath, 1281 SqFt, 0.21 Acres
  • Residential
  • Add as Favorite
Homes for Sale located at 29000 Barkley St, in the city of Livonia, MI 48154
  • MLS® #: 219024195
  • 29000 Barkley St
  • Livonia, MI 48154
  • $140,500
  • 4 Bed, 1.1 Bath, 1249 SqFt, 0.19 Acres
  • Residential
  • Add as Favorite

Livonia Foreclosure Market

If you're looking to buy a property at a low price, then you'll find that foreclosures are exactly what you're aiming for. A foreclosed home in a good neighborhood like Livonia with high resale values can be a good investment. If the foreclosed home that you are interested in is a real estate owned by lender (REO), you won't have to pay back taxes. If you buy an REO, you will not get any disclosures on the home either. This means you won't know what kind of issues you will be dealing with regarding the house. However, if you work with your real estate broker, you can pull together all of the public information that you need on the home. In addition, you can invest in a home inspection, which will reveal most structural and mechanical problems.

You should also know that your sales contract with the bank will not look like your regular local contract with the Board of REALTORS®. The bank will add on clauses to protect themselves from future lawsuits, which means the banks will put most of the home's burdens on you. It is up to you if you decide to walk away, but just remember that you'll be walking away from a great deal. You need to re-key all of the locks after you buy a foreclosed home because real estate agents, contractors, bankers, and appraisers all have the key to your locks. Livonia is a safe neighborhood to live in but you just want to ensure your safety.

There are a number of reasons that more and more distressed properties are showing up for sale in Livonia. Foreclosure activity in Livonia has doubled since the same period last year and the real estate market is definitely trending down, so it's an ideal time for investors to start buying up. Now is the time to make money investing like a pro, taking advantage of a unique buyers market, offering property deals at below market values that certainly won't last for the long term.

The Livonia real estate pipeline of foreclosure filings is high for the state. There is an abundance of homeowners in financial trouble, entering pre-foreclosure status in Livonia for a number of reasons. Bank owned homes in Michigan usually have water damage due to the cold winter months and homes not being properly winterized. Homeowners have a six month redemption period in Michigan to get caught up on their payments before they lose their house and have to leave the property. Lenders are just starting to get more aggressive to avoid a foreclosure and entertain a short sale, if the seller qualifies.

Livonia Foreclosure Real Estate Agents

Planning to buy or sell a foreclosed home in Livonia? Let our local Livonia real estate team guide you through the sale of your current residence or purchase your new bank-owned home. As Livonia real estate experts, we're well-versed in the unique market dynamics of Michigan real estate. We're prepared to negotiate for you today!

Contact the Mark Z Home Selling Team to learn more about representation for buyers and sellers. Preparing to sell your Livonia home? View our comparative market analysis page to receive a free Livonia home value estimate within moments.

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Provided through IDX through Realcomp II Ltd. Courtesy of eXp Realty. Copyright 2019 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.