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Posted on Saturday, Jan. 05, 2013

The perils of buying a foreclosed home online

By David Smiley

Billy Makedonsky thought he’d found the perfect retirement home for his 75-year-old mother. Better yet, buying it required just a few mouse clicks.

His only concern about the bank-owned house with the terracotta driveway and barrel-tiled roof — other than the fact he’d never bought a home online before — was this caveat on GoHoming, the site auctioning off the property as is: “Please DO NOT DISTURB the occupant.”

Turns out he had good reason to be worried.

Read More…

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