here's a couple examples...

Posted by Edward Nolan on December 05, 2002 at 01:27:44:

In Reply to: I am looking to purchase a house that is in forclosure posted by Adrienne on December 02, 2002 at 19:22:31:

the easiest way is not always the best way!

I had to say that first since there are many ways to acquire a home. Some examples of buying a foreclosed home would be those you mentioned; "approach the bank", and "bid at the auction" as well as, quit claim deed, deed in lieu, note sales, drug homes, board ups, fire damaged, and tax foreclosures, oh; I almost foregot, even MLS listings.

Lets start with MLS listings. Most of the banks that foreclose on homes list the homes with a realtor. To work in this area would be the simplest but not the most profitable. You could ask any realtor for listings of homes for sale around 30k or under and most likely those homes would be foreclosed homes and the listing agent would be working for the bank to sell the home.

But, the best area to work in would be prior to the foreclosure, aka pre-foreclosure. To find these you almost have to be a pro, but not really! Just go to the court house and get a listing of homes coming up for sherrif sale within the next few weeks and then drive by all the address's. You're bound to find someone still in a home or two. At this time you find out how far past due they are, what the amount owed to the bank is, what the payment amount is monthly, how much the original aprsl is for and then you determine the type of purchase that is best for you!

If you want to know more simply reply in this forum and I or others will do what we can to help! Ed

Follow Ups:

• My Chapter13????/and 1$ Gift home to Daughter - Faith 03:44:38 02/02/03 (0)
• My Chapter13????/and 1$ Gift home to Daughter - Faith 03:33:32 02/02/03 (0)
• pre-foreclosure HELP!!!! - Amy Francis 14:53:14 12/16/02 (6)
  • It must be worth it I guess... - Edward Nolan 01:10:59 12/17/02 (2)
    • Re: It must be worth it I guess... - Amy Francis 22:30:09 12/17/02 (1)
      • Good things come to those who... - Edward Nolan(Ohio) 02:14:07 12/19/02 (0)
  • Re: pre-foreclosure HELP!!!! - Zidzi 18:26:40 12/16/02 (2)
    • Re: pre-foreclosure HELP!!!! - Amy Francis 22:49:19 12/17/02 (1)

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Comments:
: the easiest way is not always the best way!

: I had to say that first since there are many ways to acquire a home. Some examples of buying a foreclosed home would be those you mentioned; "approach the bank", and "bid at the auction" as well as, quit claim deed, deed in lieu, note sales, drug homes, board ups, fire damaged, and tax foreclosures, oh; I almost foregot, even MLS listings.

: Lets start with MLS listings. Most of the banks that foreclose on homes list the homes with a realtor. To work in this area would be the simplest but not the most profitable. You could ask any realtor for listings of homes for sale around 30k or under and most likely those homes would be foreclosed homes and the listing agent would be working for the bank to sell the home.

: But, the best area to work in would be prior to the foreclosure, aka pre-foreclosure. To find these you almost have to be a pro, but not really! Just go to the court house and get a listing of homes coming up for sherrif sale within the next few weeks and then drive by all the address's. You're bound to find someone still in a home or two. At this time you find out how far past due they are, what the amount owed to the bank is, what the payment amount is monthly, how much the original aprsl is for and then you determine the type of purchase that is best for you!

: If you want to know more simply reply in this forum and I or others will do what we can to help! Ed


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