If you are interested in buying a house from a distressed owner in preforeclosure, the results would be beneficial to both distressed homeowner and the foreclosure investor. If you buy this preforeclosure house, you will benefit from being able to purchase a house with a value that is way under the market value, and it benefits the distressed owner since he will not lose his property to his lenders and have money in the process. After buying you can renovate and sell it, have it rented, or assign the contract to another inventor for a profit.
Where do we find these preforeclosure properties then? Here are 3 sources of real estate leads.
The first thing to do is to check out your county clerk or recorder’s office. There are public records that show transactions between homeowner and their lenders. The official notice filed against the homeowner by the lender after they miss even a single payment is called NOD or lis pendens. This list of notices can be acquired by paying a certain amount depending on where you live. Your are not likely to get contact info on the homeowner so be prepared to do some research to track them down. You need to be ready to spend some time since there are a lot of documents to check out. There is a need to spend time in doing research since it is possible to find foreclosure leads.
If you go to a mortgage broker, he will be able to provide you with a list of preforeclosure properties. You can be referred by the local mortgage broker as a free source to distressed homeowners. These distressed preforclosure homeowners are not able to pay their mortgage, and are not even able to arrange new payment terms. They can opt to sell their property to real estate investors for a fast sale.
Many homeowners do not really understand foreclosure processes and this is why they need counseling and guidance. You can help them get a fresh start by buying their house.
You can also find preforclosure homes in an online preforeclosure database. If you search this online data base you will be able to fin lead of preforeclosure properties. You should look for a reliable online service. Choose an online foreclosure database that lists preforeclosure properties. There are many online sites which are not reliable and does not yield any search results. However, there are online foreclosure websites that actually list preforclosure all over the country, including the pay off, equity, attorney handling the case and many others. If you want fast, easy and accurate preforeclosure information, check out the online foreclosure database. This site generates 20 to 30 leads per month which gives you a lot of choices for preforeclosure properties to buy that is way under market value.
The 10 Best Resources For Resources
Questions About Tips You Must Know the Answers To