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Answers (16)
- Carole Tyne, "Carole Tyne"
- Contributions:142
It is best to have an agent represent you. They can walk you though the process and send you homes that best fit your needs.
- Dunes....
- Contributions:3894
You could make use of the Fed Gov and Banks Sites they have created to allow the Public to view their Properties for Sale/Foreclosure/REO..Get a feel for Prices and different Options
Sites like...HUD Homes...Fannie Mae
You can find the links to all the Gov sites here...Link
Bank sites like....Bank of America...Wells Fargo
You can find links to Bank sites here...Link
For finding Public Records, Property Records, Tax Sales posted ect. you may find this Public Records Search Engine helpful...Check it out
Free Public Records Search Directory
You have options .. become familiar with them and then move forward/make your decisions
Sites like...HUD Homes...Fannie Mae
You can find the links to all the Gov sites here...Link
Bank sites like....Bank of America...Wells Fargo
You can find links to Bank sites here...Link
For finding Public Records, Property Records, Tax Sales posted ect. you may find this Public Records Search Engine helpful...Check it out
Free Public Records Search Directory
You have options .. become familiar with them and then move forward/make your decisions
- windybrow
- Contributions:1
[self promotion removed by Zillow moderator]
- Kent Davis, "Kent Davis Broker"
- Contributions:7
Get someone who has experience so you don't get yourself in trouble. Like aREALTOR or a real estate attorney. Buyers Agents like myself don't cost you anything. I'm not $ure about attorneys.
Happy Home Ownership
- Rick Chumsae, "Rick Chumsae"
- Contributions:283
One more point. I've listed over 200 foreclosured properties for sale in the last 15 years. A very strange bit of observed human behavior is that just a few - less than 3% of those 200 - even attempted to sell their homes before the foreclosure.
Some I can understand (upside down are near upside down), but even some with decent enough equity just fail to try. I think that people and families in financial distress have trouble with clear thinking under that stress.
Some I can understand (upside down are near upside down), but even some with decent enough equity just fail to try. I think that people and families in financial distress have trouble with clear thinking under that stress.
- Rick Chumsae, "Rick Chumsae"
- Contributions:283
Short answer "County Clerk." (for pre-foreclosures)
Advice "Don't do it."
Why? State laws differ, most importantly on Redemption or Non-redemption rules. If you don't know the meaning of these terms, then start reading or buy a Starbucks.
Here, auctions are the first Tuesday of the month. All filings for each auction must be done before the 21st day before the auction date. Hence, if you check the county clerk's website or notebook within 21 days of the auction, thenthe list for that day is complete.
There are hundreds of potential issues and problems that the buyer should be aware of because a misstep could cost you everything you own (not just what you bid). If you don't know what the issues and problems could be, or how you could lose both your money and your kid's shirts, then get reading or buy a Starbucks.
Foreclosed properties are usually far safer to work with and a tremendous majority of these are assigned to a Realtor within two days of the auction, if won by the bank.
By the way, you could do every step in perfect rythym with the music and spend hours on locating a property at auction, and then have some uneducated dope outbid you and everyone else, far overpaying (the dopes think ANY price at auction is a GOOD price.)
If you know the answers to all of the "between the lines" messages herein, then maybe you'll be ok. If not, at least buy a coffee at Starbucks and contemplate buying an Airstream
trailer and see the USA.
Advice "Don't do it."
Why? State laws differ, most importantly on Redemption or Non-redemption rules. If you don't know the meaning of these terms, then start reading or buy a Starbucks.
Here, auctions are the first Tuesday of the month. All filings for each auction must be done before the 21st day before the auction date. Hence, if you check the county clerk's website or notebook within 21 days of the auction, thenthe list for that day is complete.
There are hundreds of potential issues and problems that the buyer should be aware of because a misstep could cost you everything you own (not just what you bid). If you don't know what the issues and problems could be, or how you could lose both your money and your kid's shirts, then get reading or buy a Starbucks.
Foreclosed properties are usually far safer to work with and a tremendous majority of these are assigned to a Realtor within two days of the auction, if won by the bank.
By the way, you could do every step in perfect rythym with the music and spend hours on locating a property at auction, and then have some uneducated dope outbid you and everyone else, far overpaying (the dopes think ANY price at auction is a GOOD price.)
If you know the answers to all of the "between the lines" messages herein, then maybe you'll be ok. If not, at least buy a coffee at Starbucks and contemplate buying an Airstream
trailer and see the USA.
- Grant Van Der Jagt, "Attorney and Realtor"
- Contributions:352
I list homes with and without realtors. Some of the sellers do not want to be represented, but they also don't want to be called on a FSBO. The problem is that these listings go fast. You should shop the realtors webpages and see which one's work best for you.
- Seth Bergman, "unrealsolutions"
- Contributions:2
This is a great question, and just so happens to be right up my alley of expertise. My strategy for finding pre-foreclosures, or motivated sellers is having multiple marketing systems in place that will have your phone ringing off the hook with motivated sellers. One of my favorite ways, and really one of the best ways to locate motivated sellers is direct marketing; and by this I mean door to door knocking in neighborhoods that have many homes for sale, and many foreclosures. I speak directly with homeowners just about everyday, and I've found that many people just ignore their problems of delinquency until it's too late. I think that many just don't know who to turn to for help when they're in a financially distressed situation. Another good strategy to get your phone ringing is to place an ad in your local paper that states the following, and ONLY the following:
I'll buy your house.
I'll make your payments.
Local Investor and phone #
This will get your phone to ring, and when you answer the phone, just say "Tell me about your situation." and let them talk. I often partner with other cash investors on deals that I locate, and since I have my real estate license as well, I negotiate the contracts, and submit all of the paperwork to the title company/attorney for a small fee. If you don't work with the right professionals (title company, real estate attorney, insurance agent, CPA, escrow officer) that all specialize in real estate investing, you could end up with a financial burden rather than an investment. Bottom line: do your due diligence, or hire someone that you trust and is knowledgeable on this subject. You can reach me at Seth@UnRealInvestments.com Hope this helps!
I'll buy your house.
I'll make your payments.
Local Investor and phone #
This will get your phone to ring, and when you answer the phone, just say "Tell me about your situation." and let them talk. I often partner with other cash investors on deals that I locate, and since I have my real estate license as well, I negotiate the contracts, and submit all of the paperwork to the title company/attorney for a small fee. If you don't work with the right professionals (title company, real estate attorney, insurance agent, CPA, escrow officer) that all specialize in real estate investing, you could end up with a financial burden rather than an investment. Bottom line: do your due diligence, or hire someone that you trust and is knowledgeable on this subject. You can reach me at Seth@UnRealInvestments.com Hope this helps!
- real estate mike
- Contributions:2001
good luck, and I don't mean it
- Angelica Molina, "MolinaGroup"
- Contributions:31
If wanting to get pre-foreclosures, via short sales, the lien holders want MLS history for that particular property.
You can try CAREI, and other Real Estate Investor groups, maybe get those wholesale properties.
Why wouldn't you be willing to work with a Realtor?
If you're an investor, one of the keys for success is to create your power team...which include one or more Real Estate Agents (based on their expertise)
You can try CAREI, and other Real Estate Investor groups, maybe get those wholesale properties.
Why wouldn't you be willing to work with a Realtor?
If you're an investor, one of the keys for success is to create your power team...which include one or more Real Estate Agents (based on their expertise)
- wholeseller X
- Contributions:1
Try linking up with other wholesale investors that buy from a direct source. I have some properties you maybe interested in. Check out my site and let me know.
[edited by Zillow moderator to remove website]
[edited by Zillow moderator to remove website]
- Michael Choplin, "Mike Choplin"
- Contributions:70
I am an agent that does not handle pre foreclosure, short sales or foreclosures because there are too many delays, too many deals that fall apart, too many mortgage company that can not make a decision and too much legal exposure for myself. If you want to navigate this minefield yourself I recommend you join [link removed by moderator]
Mike Choplin
Mike Choplin
- Marlene Berrier, "marlenesellshomes"
- Contributions:23
To find the foreclosures without a realtor would be detrimental only because there are so many things that can come up in a foreclosure that a buyer may not know about -legalities, title, inpsections and other problems. If you prefer to buy without a realtor, it may be difficult becuase usually the listings are assigned to an agent from the bank to market their property and there are certain disclosures that the bank must give to you as a buye. A HUD home must be bid on through a realtor-there is no way around it. Realtor's really are a good asset and can assist you in your purchse of a pre-foreclosed/foreclsoed home-interview a few that are experienced in pre-foreclsoure and foreclosed homes and you will be amazed at how much a realtor can really help you.
- Fancy Fulton, "fancyfulton1"
- Contributions:11
Yes, they are all listed at a certain point and it is VERY difficult to get to them prior to. I agree with getting an agent that is educated in that market as there are learning curves that can cost you money!
Fancy fulton
Fancy fulton
- Alisa Hagner, "AlisaDenver"
- Contributions:381
Not all pre-foreclosures will go to the foreclosure sale. I think the average in Metro Denver is 30%. Colorado state law gives 120 days from the Notice of Election & Demand (NED). Each county's Public Trustee maintains a website, look for the NED's.
All REO's that the lenders wish to sell are listed with a Realtor.
All REO's that the lenders wish to sell are listed with a Realtor.
- David Janis, "definitelydave"
- Contributions:88
Great question. I have a list of the properties but I am a Realtor.
99% of these preforeclosure homes are already listed by a Realtor. It will be really difficult to find the 1% that are not.
All foreclosures are listed by a Realtor - the banks don't sell them by owner.
[content removed by moderator for being self promotional]
99% of these preforeclosure homes are already listed by a Realtor. It will be really difficult to find the 1% that are not.
All foreclosures are listed by a Realtor - the banks don't sell them by owner.
[content removed by moderator for being self promotional]
We are cash buyers and want to find pre-foreclosures/foreclosure. Where do we find them w/o realtor
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