Hello guys and gals, I’m new to posting on this site but I been reading alot of the great topics and answers on this site so I would like to thank all the active members for the information. Now my question is I am an agent, I considered the idea of talking to people in a foreclosure status and seeing if they would list with me so I can try to sell their property before the banks seizes it. I mean I would like to invest but with no money I figure I try to build the capital before moving into that field. The market I am aiming at is hot so selling it should not be that much of a problem being that the price of the property would not be at full market value. So the question is, is it worth listing or even approaching these types of properties or not. how much time do I usually have before the bank takes over, how do I research if there are any liens on the property and would this work as a regular listing up until the point it is auctioned off.
I see a lot of preforeclosures listed with realtors. It’s almost their only alternative they’re aware of. The problem is they owe too much in a declining market…oops!
so what are your opinions on foreclosure.com, im asking because I did not hear good things about that site as I was reading comments on this site. is that site accurate when it comes to its listings.
foreclosure.com sucks, their listings are generally 3-4 months out of date.
Depending on where you are, you have anywhere from 3 months to ayear before the house actually goes to the sherriff’s sale, but bear in mind that selling is the first thing that most people think of, and a reltor is the the first person they think of to do that, and generally it doesn’t work because they have negative equity, so they’re trying to sell the house for more than it’s worth.
You can research liens through a title company, they charge around $125 to do it.
You can list the house right up to the auction, after that point, it belongs to the bank, so they decide what to do with it.
:cool my 2 cents here iam out in washington state and i have a in with three pre foreclouser trustee companies and i get current information >>>> most times i have from 3 months to 6months to get some kind of a deal on a property !!! AND if i want to pay a bit more than i do for the basic information i get a complet lay out of information on the property leins ect
Question for real estate 001, when you talk about pre foreclosure trustee companies what are these companies? Are they brokers or something else? I am in Washington also, and I am always looking for new places for leads. I have good relations with a broker here locally who send people my way and several real estate agents also. If there is another avenue I have not touched would I like to know.
So if you would please share your info I don’t think we are in competition with each other.
:cool hey not a big secret they are the ones whom post and file the notice of default on homes and if you can get in with them they can and are a very big help in finding buys >>> but as i said you only have a few months to get a deal done
WHAT side of the state are you on iam in the tricities >> walla walla east side