This how I am assuming to put a deal together. I am from indianapolis, IN
-
Go to the court house and look for homeowners in NOD(notice of default) I tried getting thses listing from title companies her in my state. So far they are not provided.
-
Contact homeowners by phone or letter. Once contacted ask about the property, liens, back arrears and repairs.
-
Run some Comps in the area to find out what the ARV will be.
4.Then get the deal under a purchase to buy contract.
- Run a title search. Title searches here in indianapolis run from 125 and up.
is there anywhere else I can run title search
6.If for example 110k is owed 1st and 15k owed on the 2nd but the FMV is 125k, should i try and do a short sale with the bank?
- Once al that is down, find a buyer and have him inspect the house then have him sign a assignemt contract and have him pay me up front. Or have him me half now and the rest at closing. Have him sign a promisary note.
So is this how do it. Let me know if someonce can explain it better.
Would really appreicated. Are state is the top for foreclosure.