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clarry
how to find and buy pre-foreclosure houses
2686
7
2007-06-03 14:44:00
I am looking for a house right now. I have heard that pre-foreclosure houses could be 20% lower than market value. But how can we have access to the pre-foreclosure house information?
[此贴子已经被作者于2007-6-3 14:45:04编辑过]
co-ask.........
good topic. here is what i found from the internet
Introduction
Whether you're looking for your next home or seeking a good investment, homes in foreclosure can provide a great opportunity to land prime real estate at discount.
Instructions
Difficulty: Moderately challenging
Steps
1
Step One
Visit a loan agent and get prequalified for a loan.
2
Step Two
Find a realtor that specializes in foreclosures. Ask for referrals from friends or family members, or find ads in real estate booklets and newspapers. If you are interested in government properties, make sure the agent is HUD-, FHA-, or VA-certified.
3
Step Three
Tell your agent how much you can spend. (Consider fix-up costs too.) Bring your prequalification letter.
4
Step Four
Ask your agent about real estate auctions, if you can afford to pay in cash.
5
Step Five
Go see what's out there. Ask your agent to help you determine what your up-front costs would be, what your fix-up costs would be and what the resale value would be for each property. Crunch all the numbers to the last detail, even considering resale costs such as advertising and commissions.
6
Step Six
Find out what the property would rent for, if you plan to lease it out.
7
Step Seven
Make a bid on the property.
8
Step Eight
If you get the bid, have a thorough home inspection and appraisal done.
9
Step Nine
Use a reliable title company to check for any liens on the property.
10
Step Ten
If the inspections turn out okay, buy your home and enjoy - or fix it up and sell it for profit.
Tips & Warnings
- If you just want to browse and see what's out there before contacting an agent, go to http://www.hud.gov, or search online real estate listings.
- Consider subscribing to a foreclosure listing service if you are in the investment business. Enter "foreclosure" into your Internet search engine.
- Some subscription services list distressed homes, others list properties already repossessed. Make sure you know what you're signing up for.
- Many books on buying foreclosed properties contain cost/profit worksheets. Use the worksheets faithfully.
- Be careful of costly foreclosure seminars and courses that teach the same principles that you can find in books at your local library.
http://www.realtystore.com/traffic/controller.do?adid=1021&gclid=CMOhqY6swYwCFRUHWAodzRLvag
from this site you may search list for foreclouse houses (need to register and maybe cost money though).
我们这里county court house和local newspaper都会有sheriff sale information 的
以下是引用yan9993在2007-6-4 23:00:00的发言：
我们这里county court house和local newspaper都会有sheriff sale information 的
good info...thx ybb
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