Could someone please provide me with the procedures required to making an offer/buying pre-foreclosed homes? ie. access foreclosure list at the the Court House, contact homeowners, find out how much is owed, past due amount…then what? Should I offer to buy their house for what they owe? Your help is appreciated!
Foreclosures is a specialized area of a real estate business. Most of us went through some training and/or read books. You might have a better response if you do that first then ask specific questions. What you’re asking could take hours or days to explain.
Check-out your local REIA and see which names keep coming up and go spend some time with them. I learned from Ward Hanigan (foreclosureforum.com) and Bruce Norris (thenorrisgroup.com) and several books. Of course I’m in la-la land California which made it doubly important I learn the legal issues for my state.
I’d recommend learning from someone familiar with your state, which I believe Ward is, preferrably someone locally.
I noticed you said you are in california and purch foreclosures could you share some of your experieince in purch foreclsoures in this state . I also am studying and attending workshops on foreclosures .
I also suggest you read every article you can find on this web site and other sites. Do a google search 'pre-foreclosure investing" or something like that. for finding all the information you requested: It’s simple! Go to the newstand your town, find the Legal Newspaper for your county, buy today’s edition, go to the “Foreclosure Cases” section and…whala! All the names, addresses, amounts of judgement and tax value of the property are listed there! all you pay the price of the paper. Better yet, subscribe to the thing and have it delivered to your home. Or if you have a friend who is an attorney, maybe they’ll give you their back issues on a weekly basis.
Or you could subscribe to an online service that emails you the lists daily or weekly. It’s really that simple. Then you market to these deadbeats. That’s the tricky part! Read up on it buddy!