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Posted by steele in minnesota on October 22, 2006 at 10:19:21:
In Reply to: pre-forclosure posted by Amanda on October 22, 2006 at 05:41:14:
: What does pre-forclosure mean for someone looking to purchase a home? There is a home in my neiborhood that is listed for $10,000. Is this too good to be true or is there a catch when it comes to the term "pre-forclosre?"
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Preforeclosure typically means a property in the early stages of the foreclosure process. Usually the time frame up to the Sheriff Sale.
Now you say there is a home "listed" for $10,000. Where is it listed? Who has listed it? Are you looking at some national supposed foreclosure listing site or is it really for sale (sign in yard, etc.)?
We really need more details.
However, I will share with you that if you got it off some national website the chances are that it is not what it seems.
But any details you can give would help us.
Steele V. Propp
Foreclosure Specialist
Schatz Group GMAC Real Estate
Minneapolis, MN
steelep@aol.com
