Profile picture for kathleeniforgot

how does a home buyer purchase a pre-forclosure property or foreclosure

  • November 28 2013 - Paradise
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Answers (16)

 You would need really marketing to get a pre-foreclosure property. Preforeclosure parties are inundated with marketing on folks who want to "buy" their home which is why I developed a 3 letter mailing to cut through that. Email me and I will send it to you. 
  • December 10 2013
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You absolutely want to contact a local REALTOR to assist you in your search. The seller/bank selling the property will pay for your REALTOR to represent you. Essentially "free representation" for the buyer. 
  • December 05 2013
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Bank-Owned Foreclosures are Available at Very Attractive prices.  My Investment Group Maintains a Daily Update on All the Newest Homes returned to the bank after the auction. Request the Daily Update and Let's Talk
  • December 05 2013
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Buying a property, (Traditional, Short Sale, REO, Foreclosure) can be a daunting task without the proper representation.  An experienced Realtor can assist with your search.  A buyer's agent may be a real asset as they can help assist with your specifications and in the interim, find you an excellent property.



  • December 02 2013
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You need to sit down and discuss with professionals like me on a one on one basis. there are a lot of questions that need to be answered in order to find out what you are actually looking for. Foreclosures are not the only thing out there anymore. Call me and we will schedule some time to talk.
  • December 02 2013
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Pre-foreclosure property is not yet available for sale. Foreclosure property is often represented by a bank and it is available for sale. You need a buyer's agent to represent you.
  • December 01 2013
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Profile picture for gator70
We did it. Use HUDhomestore or Homepath.
  • December 01 2013
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Profile picture for Sam Moustafa
The question to you is why you want to buy a so called Pre-foreclosure property ? I assume because you think you getting a Deal . Every situation is different and every property is unique.my advice is you need professional help to navigate thru this myth of Foreclosure world. My advice = Stay away. It could be a major waist of time.
  • December 01 2013
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GO TO homepath.com   see

 foreclosures available to purchase you will need a licensed realtor to submit your online offer...that's where I come in
  • December 01 2013
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THERE USED TO BE A SITE THAT YOU COULD PAY FOR BY THE MONTH FOR A MINIMUM OF SIX  MONTHS THAT LISTED PROPERTIES...HOWEVER EVEN IF THE PROPERTY IS LISTED YOU CAN'T BUY IT...BUT IT WAS A WAY FOR THE SITE TO DERIVE AN INCOME FROM PEOPLE WHO THOUGHT THEY COULD

Today with the right agent a short sale can become a viable option to avoid forelosure
  • December 01 2013
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There are a lot of factors that play into these types of deals.

-Are you interested in a particular home?
-Are you trying to buy REO's on the MLS?
-Are you trying to go after short sales from the current owner prior to the bank foreclosing or are you trying to buy from the bank after they foreclose?
-Are you a cash or finance buyer.

There are many other factors as well. Please either tell us a little more about what it is that you are trying to do or have a conversation with your agent about your goals, purchasing strategy, and exit strategy. Make sure you have an investment plan before submitting offers. I hope this is helpful!
  • December 01 2013
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Pre-foreclosures are not available for sale and cannot be purchased.  Foreclosures are available for sale through real estate agents.  Find a good buyers agent to help you.
  • November 29 2013
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Profile picture for Ed Rorrer
Pre foreclosure would have to be bought directly from owner. Foreclosure is usually bought from a listing agent representing a bank.
  • November 29 2013
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Profile picture for Rebecca Marvel
Any property - unless it's a FSBO - will need to be listed before you can buy it.  This includes short sales and REO
  • November 29 2013
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Profile picture for Outer Banks N C
Pre-foreclosure is a horrid term because it means what? Who knows what it means and that is the problem. It might just mean the property is reported as being in default. Will it go to foreclosure or not? If they are using the term meaning a short sale, then get a Realtor to guide you and be ready for a long rough ride. If you are on a site that shows pre-foreclosures it might not be for sale at all.

Bottom line is find a Realtor to work with that can show you real homes for sale.

tim
  • November 29 2013
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Whether buying a preforeclosure (also known as a short sale) or a foreclosure, get a buyer's agent to help you. It costs you nothing because they're paid by the seller's lender.  And you get someone who can help you pick out the right property, negotiate to help you get closing costs, inspections, etc. done during escrow.

 But your first step is to get prequalified to see what you can afford and what your loan options are. That way you buy something that works for you budget and aren't disappointed because you either fall in love with a house that's way too expensive, or buy something a lot less than what you wanted because you didn't know you could afford it.  Also, most agents and sellers require a prequalification before showing homes.
  • November 28 2013
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