How to BuyPreForeclosures ContentsIt takes a while for a property to pass through Introduction ..…………………………...1the foreclosure process for the reason that Knowing Your Markets..……….…...2there are so many houses repossessed these Getting Key Information..………….2days. During this time, troubled homeownersbecome increasingly desperate while lenders Negotiation……………………………....2stack up costs that they may never recover. Closing the Deal Quickly………......3This adds up to a good time to buy.
2Know Your MarketsKnow how to explore it and what constitutes a good price,for a particular type of house and in a particularneighborhood. Live on websites likeForeclosureDeals.com, where you will find all theinformation you require and much more regardingforeclosures real estate. When something pops up, drive byimmediately to check it out. Key Information If you are interested, make contact with the seller, inspect the property, build a friendship bond, and find out key information. These facts include current market value, the outstanding loan, other loans and liens, and monthly expenses. Do your sums and use these to persuade the owner to accept your offer. NegotiationWhat’s does that mean? Speak to the lender. Show them the value of your pre-approvedFor more terms and definitions, loan. Convince them that you are genuine and will buy if theycheck out ForeclosureDeals.com’sglossary page: agree your offer. Make things easier for the homeowner too.http://www.foreclosuredeals.com/Glossary.php Perhaps they could stay on for a few more months, or you could pay their first month’s rent someplace else? Bargains do come at a cost sometimes.
3 Close the Deal QuicklyForeclosure Deals12550 Biscayne Blvd, Suite 306 You are unlikely to be the only buyer sniffing around. If youMiami, FL 33181FAX: 1-347-402-6620 decide to buy under the agreed terms, move quickly. HaveContact@foreclosuredeals.com everything documented and signed off right away beforeIf it’s not a deal, we won’t list it here! people change their minds.Find us on the Web:http://www.ForeclosureDeals.com/ Remember that a pre-foreclosure home is not for sale, but may be open for an offer. The owner may be negotiating with other buyers too, or arranging a mortgage modification with their bank. Check out these intentions early on before investing time. Avoid disappointment – cover all your bases.