Pre-Foreclosed Homes and Foreclosed Homes
Pre-foreclosed homes. What it is and how to find them:
Preforeclosure is a period in which the homeowner defaults on their loan, meaning they owe their payments or back payments that are past due and before the home is owned by the bank. It helps you save a lot of money, and it also helps the seller from going into foreclosure and ruining their credit before the home goes into auction. It’s a win-win situation.
Benefits:
You can get a great deal on a property. Many times at least 30% lower than the market value. Since the homeowner is still in possession of the property you have the ability to have your real estate agent negotiate directly with the owner and possibly get a better price for the property before it goes to auction. If the property goes to auction there will be bidding wars.
How to find foreclosed properties:
The information can be found in your local municipal offices. If you choose to go to your local municipal offices the division to reach out to is the county clerk’s office/clerk of court or your county’s recording office and search the public records. Look for properties that have received a “Notice of default” or “Lis Pendens”.
A simple solution to lessen the legwork is signing up with Foreclosures.com.
Click on the link below to see if Forclosures.com is right for you:
Real Estate Agent to do the heavy lifting.
Don't be a weirdo by calling these individuals asking to purchase their homes. Lean on a real estate agent who specialized in these transactions and have them contact the sellers.
This is a great opportunity for you to become an investor, save money as well as help someone else.
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