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Archives by Tag 'foreclosures'
What is an REO?
In Real Estate there is an old saying….everybody needs a place to live. Whether it be in a rental, a home you own, manufactured home, or trailer we all need somewhere to lay our hat. Because of that there are always ways to make money on properties no matter what the economic environment. Right now [...]
Types of foreclosures
After being late for 2 months sometimes as long as 12 months after the first missed payment the lender will start legal proceedings. A lawyer for the lender will send the borrowers a letter with the notice of default and give them a chance to cure the default by paying all the back payment plus [...]
Best ways of finding foreclosures
So how do we find these great deals? One website I’ve found is foreclosure.com. Being a Realtor I can use my MLS to see if the properties listed on there are current. Foreclosure.com is very up to date. There were only a couple of homes in my area that were NOT current and all were [...]
How do I find the very best investment in the shortest time?
Research is the key. The first place you should go, is your local Realtor. They can easily and quickly search through the MLS and find you lots and lots of foreclosures. The key to finding the good deals is checking on new listings daily. Most of the time the really good deals only last a [...]
The internet, is a powerful tool to find, research, and buy REOs.
I have gone through and checked out a great number of Foreclosure sites and here are my very favorites and un-favorites. foreclosure.com : excellent site! Very easy to use, also gives you addresses on a map for ease of finding the properties. You also get a free week to try out the site before committing [...]
Pre-Qualified what does it mean, how do I get it?
Pre-qualified is very important when putting in offers on foreclosures. Pretty much all the banks require you to have a pre-qualification letter from your lender in order to put in the offer. If you are paying cash you need to have proof of funds, like a bank statement, or a letter from your bank saying [...]
Final walk through inspection
Before you go to the closing table you will have an opportunity to do a final walk through inspection. Which just means you can go through the house and make sure it still has everything you wanted, and nothing you didn’t. Buying a foreclosure will greatly limit your ability to request the sellers to do [...]