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Buying homes in pre-foreclosure

By | Published: Jul 28, 2010 | 87 Comments

Pre-foreclosure is a crucial time in the foreclosure process. It is during this period that investors can typically make the largest profits and can negotiate a deal that may be favorable for all parties involved including the buyer, homeowner, and lender. The steps below will help guide you through the process.

Find and file properties

It's important to get up-to-date pre-foreclosure information and act on it as quickly as possible.

Develop a system to keep track of properties that interest you. A good tracking system is important since most pre-foreclosure buyers pursue many properties sometimes over a period of several months.

After you find a property online, it's a good idea to drive by the property to get a better idea of the property's condition and the type of neighborhood. For some buyers and investors, driving by the property has also facilitated a casual meeting with the owner or yielded a wealth of unexpected information from a talkative neighbor.

Confirm pre-foreclosure status

When a property enters pre-foreclosure, the owner usually has at least 2-3 months to reinstate the property by paying off the amount in default. The reinstatement stops the foreclosure process, so it's important to find out if a property has been reinstated before proceeding. The best way to check if the property has been reinstated is to call the trustee or attorney assigned to the foreclosure. The trustee cannot typically answer other questions about the property; they can just let you know if the property is still in foreclosure or not.

Check potential bargain

You need to find out as much as you can about the estimated market value of the property, how much is owed on the property and if the owner has any other liens against the property. This is all public information and you can research on your own with the county recorder or you can use online property reports and tools to help. This process should not take more than a day or two, because you don't want to delay long before contacting the owner in default.

Contact the owner in default

You or your real estate agent should initiate contact with the owner to express your interest in the property. Before you expend the time and effort to contact the owner, make sure you're fully prepared to buy.

If the owner has decided to list the property for sale, you can simply contact the listing agent. Once the property is listed with an agent there may not be as much bargain potential, but you can still possibly negotiate a good deal because you know the owner has a limited amount of time to sell before the bank repossess the property or sells the property at public auction.

In most cases, the owner has not listed the property for sale, so you will need to pro-actively contact them. In this case, contacting the owner can be tough, but the potential bargain is greater because there will be no listing agent.s commission.

We recommend contacting the owner by mail to start. The basic message you want to communicate to the owner is that you're interested in buying the property and you want to work out a purchase agreement that benefits both parties. If you send a postcard, we would suggest not mentioning the word foreclosure as this could be embarrassing to the owner if someone else saw the postcard.

Don't be surprised if the owner does not respond to the postcard immediately. In most states, the owner has several months between the initial foreclosure notice and the public auction. During this time the owner will consider all the options available, including refinancing or selling. An owner's first reaction is usually not to sell. But if no other options work out, selling is a better option than losing the property at public auction.

Many successful pre-foreclosure buyers and investors send out quite a few postcards to properties in their area before they find an owner who is interested. It's not uncommon to send out several postcards to the same owner during the foreclosure process. The owner may be more interested to sell as the auction date looms closer. If the owner doesn't respond to postcards, some buyers and investors will try to reach the owner by phone or in person. If you do this, be prepared for a possible rude response as these methods of contact are more inherently confrontational. And always keep in mind that the owner in default retains ownership rights to the property during the pre-foreclosure period. If they are not interested in talking with you, it's time to leave.

If the owner rejects all of your contact attempts, you may still have a chance to purchase the property at public auction, which occurs if the owner doesn't sell or pay off the amount owed during the pre-foreclosure period. You could also call the trustee periodically to check if an auction has been scheduled.

Negotiate a purchase agreement

Once you have made contact with the owner, you should meet with them for further discussion about the property. As part of this meeting, or a later one, you should arrange to walk through the property to make sure it meets your criteria as a buyer.

Because owners in foreclosure may not have the money to make repairs to their property, you might be willing to buy the property as is, but you still want to keep a tab of estimated repair costs and subtract them from your purchase offer. Your willingness to put some "sweat equity" in the property after you purchase it will increase the chances of realizing a good bargain.

If you and the owner both agree to proceed, you need to negotiate the terms of a purchase. These negotiations will involve you, the owner and the foreclosing lender. A real estate agent can be a valuable resource during the negotiating process.

If the loan in default is assumable, you may be able to pay off the amount in default and take over payments under the current terms of that loan. If not, you will need to pay off the full amount owed on the loan. If the property has other liens placed on it, you'll need to make sure those are cleared out as part of the purchase agreement. If the owner has equity in the property above and beyond the liens, then you can offer to split the equity with them, allowing them to walk away with cash and you to acquire a property below market value.

Owners might be more willing to work with you if you are flexible to help them out in creative ways that address their situation. You could offer to let them stay in the house for a certain amount of time (possibly paying rent) until they find a new place to stay. You could offer to pay their housing costs for the first month or more after they leave the property. If you're purchasing the property as an investment, you may let them stay and pay rent until you decide to resell the house. There are myriad ways to work out an agreement that benefits both parties. Remember, just selling the property during pre-foreclosure allows owners to avoid a foreclosure-marred credit history, making it easier for them to find a new place to live.

While negotiating the purchase agreement with the owner, you should also contact the foreclosing lender and any other lien holders. You want them to know you plan to purchase the property and satisfy any liens against the property. You also may be able to negotiate a lower payoff amount to satisfy the debts owed. Since you're saving them the trouble of pursuing and collecting the debt owed them, some foreclosing lenders and lien holders will clear liens on a property for less than 100 percent of the amount owed. This is another way to realize a bargain during pre-foreclosure.

The goal for you as a buyer is to purchase a property at least 20 percent below full market value, although better deals are often possible. When determining the final purchase offer, you should also take into account the rate of real estate appreciation in the area and the potential for increasing the house's value by making repairs and improvements.

Close the deal

Once you've arrived at an agreement with the owner in default, the foreclosing lender and any other lien holders, you can put the agreement in writing. If you're not familiar with how to draw up a purchase agreement, you should have a local real estate agent or real estate attorney help.

Any purchase agreement should make closing the deal contingent on a full title search conducted by a title company or attorney. The purchase agreement should also allow for a professional inspection of the property before closing the deal.

An escrow company, who acts as a third party, can manage the transfer of money and property ownership. Assuming that you have your financing secured, this should be a fairly smooth process.


By Jermaine,  Wed Aug 11 2010, 15:53
This was most informative!
By Sameer Punjani,  Sat Aug 28 2010, 23:08
What about the part where you give the owner the option to stay and rent the place from you? I think if they are going to lose their home and you picking it up at 80% of the value, give them a chance to live in the same home or give them $5000 in relocation fees.
By Fran Rokicki,  Tue Sep 14 2010, 16:15
This is similar to a short sale. The owners are trying to sell the home, before the foreclosure notice is sent to them. Unfortunately, too many people borrowed money from their homes, increased their mortgages and then, could not afford to pay the mortgage. Some lost their jobs, others, need to relocate and cannot sell for what they owe the bank.
By Cinnamon Boffa,  Mon Jan 24 2011, 08:01
If you really find a home you like and you can work a deal out with the current owner, make sure before you sign the contact you do a title search to make sure you are aware of all liens against the property
By Linds,  Wed Mar 2 2011, 18:23
There's a forclosure on this site. It has no address though, how would I go about finding and buying it?
By Carol,  Sun Mar 6 2011, 14:58
How do I get more information aobut the homes in pre-closure status?
By J Mario Preza,  Mon Mar 7 2011, 10:52
What exactly is a pre-foreclosure sale? Is this a short sale? Is this buying a house in foreclosure directly from the seller? If the latter, please beware that there are some strict guidelines, depending on the state, about disclosing to a "distress home" seller about his/her rights to fair dealing, AND the requirement to use a special form to insure that the seller/owner is fully cognizant of certain rights even during the foreclosure.
By Sally,  Tue Apr 5 2011, 13:48
why do you have to pay to view foreclosed properties?
By Gail Liefer,  Fri Apr 15 2011, 14:16
I think you should at least put how many bdrms , bthrms so you can see if you may be interested we see the other listings
By Momma Firefly,  Sun Apr 24 2011, 09:48
It makes no sense to me that you have to pay to see forclosure listings. If they want to get them sold, wouldn't it make more sense to allow all people who may be interested see the listing? I would not pay a site to view listings. This sounds like a scam to me. Call your local real estate agents, and ask if they have any forclosure listings. Or call the major lenders directly. They are the ones that want to sell these properties, they will tell you addresses of properties they have in forclosure. Happy hunting!
By Littleasican,  Sat Apr 30 2011, 22:02
Fact: window shopping is basically just that. If you are serious on buying a home, get a realtor. Or get pre approved. Then make an appointment. with whomever has the property you are interested in .
By Jameas Duncan,  Sat May 14 2011, 05:19
I need an agent to work with me in detroit, often They never replay or get the information that I need.
I'm looking to buy multi units in detroit, up to $30,000 with units occupieid and not need much rehab work.
I seen several under $10,000 that I can pay cash for.
others up to $30,000 I would like to lease option for 5 years with 25% down
a lot of agents say they want all cash, but the seller needs to be told that that might not be the best for them that there are a lot of other properties in detroit
if your a real estate agent, e-mail me at altha2008@yahoo.com. that is if you want to work
By Yohannes,  Sun Jun 26 2011, 18:03
It dose not make sense to pay for forecloser home.
By Tgrwjd,  Sun Jul 24 2011, 17:11
The Trulia listings are just "teasers" to get you to sign up with Realtytrac.
All we need is the basic info how to contact the bank or owner, since there is NO MLS listing for the property. I spoke to a realtor who said that with out an MLS listing, the property owner is not really serious about selling
Is this correct?
Sharon B.
By Marvin,  Fri Jul 29 2011, 11:27
when a home is on the market as a forclosure is it at a higher risk of being damage to the property? or just the previous home owner lost the home and there just packed up and left?
By Xiao_yan620,  Fri Aug 19 2011, 10:06
For example, I want to buy a preclosure home with 500k loan. Should i pay off the loan and also pay the homeowner's downpayment back? If so, there won't be too much profit for me. ...
By Samuel41_2001,  Wed Aug 24 2011, 04:23
I am confused please realtors respond. When we see pre-forcosures on this site does that mean it is for sale or is it just letting us know that the bank may sell it due to default. How do you contact someone to buy a pre-forclosure you see on this site. It says realty trac. I have found the address but don't know how or if I can put an offer in on this property. Please respond and thank you.
By Cameron Adams,  Wed Aug 31 2011, 21:54
To pay to view a pre-forclorsure listing is a travsverty of justice and proves how scandalous agents are .#1 They dont want you to see the house or listing because if you do they loose out on the, sale so they put these lists together to make a buck, #2 After you buy the list they find out who you are ( a prepective buyer)so now they try and steer you away from that property and try to sell you one of thier listed properties so they can make the payment on thier new mercedes
By Mkheath2350,  Sat Sep 3 2011, 00:18
Go to blockshopper.com you can find all the pre foreclose for sale
By Mkheath2350,  Sat Sep 3 2011, 00:18
Go to blockshopper.com you can find all the pre foreclose for sale
By Wally,  Sat Oct 15 2011, 17:44
Don't waste your money signing up for realtytrac.
By Sharon Canada,  Wed Nov 16 2011, 16:36
The listing on Blueberry Hill was SOLD as a foreclosure over a year ago.
THIS site has it listed as a pre-foreclosure. That has NO BEARING whatsoever on whether it is even FOR SALE. This info. is grossly out of date and incorrect.
This info is NOT provided by Real Estate Agents. It is public records of Lis-Pendens.
If you are seriously looking to BUY a distressed property, consult a Real Estate Agent. or waste your time on this site.
If you think a homeowner who is behind on his payments on his UNDERWATER home can sell you his home 'just like that' you need a reality check.
Info provided in this comment by a licensed professional Realtor.
By Nice_2_meetcha,  Sun Jan 15 2012, 16:41
"A licensed professional Realtor", which means you are a UNION property hawker. National Association of Realtors is a Union that tries to hold all the property information very close to their vest so that interested parties have to access said properties through their over-priced services. No thank you. I'm much more resourceful than that.
By Chiniquemayelin,  Tue Jan 24 2012, 11:51
yo hablo espanol y quiero comprar una propieedad cash, necesito q me ayuden con el proceso
By Bumb Deal,  Sat Mar 24 2012, 07:51
Bank owned Foreclosures can be a real Bumb Deal for the buyer! Banks by law are not required to make any disclosures regarding the condition of the property. Believe me when I say IT IS BUYER BEWARE! A perfect example of this is the REO property located a 2138 Paseo Donito, Alpine, CA 91901. The roof leaks & needs to be replaced & there is mold & water damage on both the first & second floors due to the leaking roof. There are 2 private road maintenance agreements tied to the property. There are a number of access easements across the property. Alpine Fire is owed $4,500.00 for hazard abatement work done by them. None of this was or will be disclosed by the BANK! BUYER BEWARE!
By Fedup,  Wed Apr 4 2012, 23:03
i am just trying to find a house and feel like one i am getting messed over and 2nd some realtors are very mean and that is saying it nice. i have been trying to get info on what was said on a site pre-forclosure house and even tho there is a vacent sign on the door and is said it is in the reo to check out this site u then cant even find it. really u would think it is just sitting there y the heck not sale to someone that wants it and gets it out of your hands ( the bank). even tryed callin and still got the run around.and i dnt think even most realtors want to mess with this but guess what it is not just about u we as a buyer need respect and every opportunity to get a house not just so u can get a big fat check...............
By Tunde,  Mon May 7 2012, 04:32
DumbDeal wrote:
"Banks by law are not required to make any disclosures regarding the condition of the property."

Obviously, banks still have way too much power and should be regulated much more than they now are. They have already made enough mess, haven't they?
By Kj,  Wed May 23 2012, 09:28
How do you find pre-foreclosures?
By Regina McGlashen,  Fri May 25 2012, 14:53
I agree that homes in pre-forerclosure or foreclosure should not have to require a fee to see them. I have a realtor selling my home and I am looking for another. i am certainly not going to pay to see a home that I may not even be interested in, or pay any more commissions than I already am required to. There is little or no info listed about each home and you must Pay to see it
. Sounds like the moron that said we have to approve Obamas healthcare package before we can see what is in it. ..with a big smile on her face too!
There are many pitfalls and risks involving foreclosed homes and to pay just for the opportunity to look at it is plain ridiculous! If this site did some of the work involved or had any assurance of fairness in negotiating , there might be a chance that merits a fee, otherwise, it is just a plain rip off!
By David Indermill,  Wed May 30 2012, 23:22
You can find many pre-foreclosures on http://WWW.foreclosureradar.com
By Matie,  Wed Jun 6 2012, 05:57
If you are seriously looking to BUY a distressed property, consult a Real Estate Agent. or waste your time on this site.
If you think a homeowner who is behind on his payments on his UNDERWATER home can sell you his home 'just like that' you need a reality check.
I agree with that. I can advise more for looking pre-foreclosure on http://www.indexpost.com/ free search, agents and so on
By Joanna Jensen,  Tue Jun 19 2012, 01:38

1) if you see a home on this site listed as a preforeclosure (auction) that does not mean it is listed for sale. Do not go to that home and knock on the door. You may insult the owner, or worse yet their child may answer the door and really be surprised.

if the home is listed for sale you would see it listed on Trulia, homes for sale or realtor.com.

If your looking to buy a short sale, or preforeclosure you should hire a realtor, generally they will have lists of homes for sale.

I am a Real Estate Agent and I work for a Real Estate Attorney, homeowners calls us to sue the lender if they are in a wrongful foreclosure. I would think twice about buying a home in foreclosure or (reo).

Generally, the servicers or lenders do not legally own the loan in order to foreclose on it and have already been paid on the loan. This is a big foreclosure mess and I definately would not try to buy with out a realtor / real estate attorney
By Jalva321,  Wed Jun 27 2012, 09:55
I agree and disagree with most individuals posting's. In todays market who in their right mind would pay for a foreclosure, especially when the majority of all the properties were inflated. Unless it is some sort of shortsale. However I do Mortgage Defense for owners in foreclosure and sometimes I buy homes from owners in Foreclosure while we fight the banks to remove the mortgage. Either way the listings are a good way for people to use the information for whatever means. Whether paying to see a list or outright just having a list. Any source that provides one an opportunity to information is always a valueble resource.
By Jim Wellman,  Wed Aug 29 2012, 08:13
I am a Real Estate Broker and my experiance in Michigan has been that unless the owner Bank has gone through all of their preliminaries (Pre-forclosure, Foreclosure, Sheriff's Sale, Redemption, Eviction and/or Notice of Abandonment, Assignment of Interest to FHA/HUD, Re-keying, Winterizing, and eventually assigning a Real Estate Broker to market the property) it is highly unlikely that anyone will be given an opportunity to purchase the place!
Very Frustrating for all; but that seems to be the way it is.
By Suzanne And John Fillion,  Sat Sep 15 2012, 10:13
What is so sad is that me and my husband have BANK OF AMERICA who were told we cant do a modification on our INTEREST ONLY loan because they sold the note to our home and the note holder wont do modifications. REALLY? We had to stop making payments...hire a lawyer out of state because nobody here knew what the heck they were doing here in California and BOA is still stringing us along. We qualify for all the programs but BOA keeps saying paperwork is missing...asking us 2.5 months later for our BK lawyers to talk to the foreclosure lawyers. We are finally getting somewhere 9 months later....three BOA experts ( NON TRAINED IN NEW LAWS FOR ANY STATE!!!) by threatening a lawsuit. I want to take these thief's to court. We are $230.000 under water...CAN pay the interest only but we refuse to do so because they got 4 years of $3000.00 a month interest only payments. Bank of America robs homeowners and with all the new laws in California and other states they have not trained anyone yet to do this paperwork. They are stringing homeowners along with the lost paperwork excuse which is silly. My best friend had BOA and it took her over a year to do this process herself. We are saving the mortgage payments in the bank as cash and even if we had to spend it it is nice to know you can do a chapter 13 to help pay it. I think the bank should let the homeowner keep the back payments especially when it is their fault it is taking over 6 months for each homeowner to get a modification. That is absurd to take that long. Here we go on 9 months and we have suffered financially and mentally and now physically with BOA's incompetence! We should be able to sue for suffering BOA is causing. This should only be a month process...ok..maybe three months at the best!!!!
By Tecla,  Mon Nov 12 2012, 10:07
sorry to say, but Trulia listings are mostly teasers. I have called the listing agents or realtors that posted houses for sale and all I the answers that I got were either the property is no longer available or it is pending, yet, I keep seeing the same houses for sale for several months now. I have asked my agent to check the properties and those are not even in MLS listing.
By Dteresaann123,  Tue Dec 25 2012, 16:29
ITS True I Also have seen the same house listed on here I was very interested in its REO Pre Foreclouser When I called a Realtor on this they can't find the msl listing anywhere this sight got my hopes high and a very big let down ..Buyers beware!! Its not fair to hard working people like myself to get my hopes up!! they should not be aloud to put a listing on that dont exist !!!!!! UPSET
By Ricky Beach,  Fri Jan 4 2013, 12:24
My client just sent this to me and I don't understand it.

Does the lien holder get a BPO or appraisal during this process?

If so, what was described above is a short sale not some special trick to get a good deal.

Also, who negotiates with the lien holder? The article makes it sound like the buyer. Then can the seller sue the buyer for negotiating a a short sale without a real estate license or being an attorney?
By Henry Nguyen,  Sun Feb 3 2013, 22:00
This site is scam .I called a realtor for checking 3 houses that I'm interested .All three of them was sold long time ,but all three house are still listed . Pit me off.
By berryp,  Wed Mar 6 2013, 07:12
By Amanda,  Tue Apr 9 2013, 08:57
Very interested in this property but nobody has any information and getting know where! If anyone can help me please let me know! I already saw the outside of the property and live very close to there now! Someone please help! I want to buy this place!
By Johanna Bassols,  Tue Apr 16 2013, 07:14
Basically you cant buy a pre foreclosure until the bak assigns a realtor to it, so it will come to the market as a foreclosure. In the case of short sales, they also have to come to the market with a realtor. SO... get a realtor, there is nothing to see on realty track, you could try to contact the seller directly but you need a realtor to negotiate the short sale with the bank and list the property on the MLS as this is a requirement, at least in FLorida. Solution: GET A REALTOR.
By cleverstuffks,  Wed May 15 2013, 01:58
It doesn’t make any sense to me. Why should people get a status of pre-foreclosure? As far as I understood buying homes in pre-foreclosure is a little bit cheaper feature. Though when a dwelling is on the market with such status it could be a possibility of damaging the property. Dwelling prices are too high especially in central districts, though their find their consumers. Maybe people who can’t buy something more or less worthy will enjoy buying home in pre-foreclosure.
Kate from http://northenloans.ca/faxless-payday-loans-online.html
By Karen Reyes,  Thu Jun 13 2013, 19:45
I want to contact at realtor for foreclosure in pa
By morrisonne,  Tue Jun 18 2013, 09:01
NOTE: RealtyTrac goes through these postings and deletes what they don't like; please copy and pass this info forward; they already deleted it once.

IMPORTANT: RealtyTrac (and other, similar sites) simply scour court records for Lis Pending filings and post them. This does NOT necessarily meant the house is in default, available to buy, or anything else. It can simply be a small lien being requested for services unpaid; it could be anything.

This is also why these websites often have no pictures or info on a property, as you would expect a realtor or bank to have; they're just reposting court filings and know absolutely nothing else.

So. Buyer beware - and also beware of those companies that try to get you to invest long-distance; there's a large corporation offering seminars, etc, and their goal is to get you to buy blocs that are in their portfolio. Buyer beware, beware, beware. If you can't go to a property yourself, and if you cannot see the legal documents relating to the property, DO NOT buy.
By Justine Chandler,  Wed Jun 19 2013, 17:16
i want to pay cash for this house. i just need to know who to talk to..
By Will,  Mon Jul 15 2013, 12:13
Paying CASH won't help you. It's "funny Money" the Banks want. Numbers and not necessarily actual cash. They want the FULL MARKET VALUE and will hold on like a snapping Turtle till they get it no matter what happens to the current seller and being active military or a Vet seems to make NO difference to them at all. This is what I have found and what I have come to expect from Banks and Realtors.
By wandhudson,  Wed Jul 24 2013, 17:14
By gldesign2000,  Thu Aug 15 2013, 12:43
Go directly to a Banks website and search "foreclosures". They usually have a contact name or they provide a link to where to find them.

You can also go to HUD homes online.

Happy hunting!
By Dolores Dattellic,  Mon Sep 2 2013, 11:45
it's a big joke. banks are still thiefs.
By Gonzales33,  Wed Sep 18 2013, 17:26
how do I go about buying this home for this price? gonzales33@cox.net
By destivencia,  Thu Oct 24 2013, 12:06
need more information on this property
By Khaledhussain384,  Thu Dec 5 2013, 08:56
hi i really really need more information in this property my number is 516-366-8852
By Juan Carlos Chavez,  Sun Dec 15 2013, 22:28
By John Kirkman,  Sun Jan 19 2014, 12:30
Banks have a process and even if they lose money they really don't care so it's best imo to wait until auction for numerous reasons. I was out bid on six of the last 7 properties I wanted but if you want to make money you have to keep at it and yea it gets discouraging at times but the rewards are well worth it. A good realtor is gold -that said 98% aren't good enough imo
By Lasheema Monroe,  Fri Mar 14 2014, 16:37
Awesome article, it offered a lot of useful information for someone like myself, who is new to real estate investing and seeking some guidance.
By Buickman69,  Fri May 9 2014, 09:44
So.. you've watched the TV shows and think you can do it to huh?
Well one thing the TV shows don't tell you is the formula for buying and this article is misleading in that respect. You don't make money flipping by paying 80% of value then doing repairs on top of that. The formula is 70% of After Repaired Value or ARV then MINUS the cost of repairs. So you MUST know what the repairs are going to cost!!!
By Glenn Jones,  Sun Jun 15 2014, 11:08
Banks should list their REOs (bank owned foreclosures) on their sites for all to see. Guess realtors won't allow it, so we need to contact EVERY bank in the book. A 45-year Broker in Charge friend advised to LEAVE OUT the realtor for buying REOs. But NEVER buy one BEFORE viewing.
By Trixiemckay,  Sun Aug 24 2014, 16:16
I agree with many of the questions and also want to know why should we have to pay to view a Pre~Foreclosure, Foreclosure, Bank~Owned Property? I actually have paid (stupidly) and all they show is the map, no photos. I've learned that SCAM, not to do again. Another question, when we are trying to get Pre~Approved and/or contact a Realtor why aren't Realtors advising Buyers of the Homes that are going to be Foreclosed on? Why doesn't the Realtor who has listed properties, discuss with the homeowners about these options to save themselves from damaged credit..... Lease To Purchase; Rent To Own; Let a very interested buyer work out a deal with the homeowner to take over payments; etc. There are still HONEST, DEDICATED, people out here that might be extremely interested in making a LEGAL TRANSACTION to purchase a home, but have some minor credit issues due to divorces and don't have a down payment; are able to make a decent payment each month; are extremely CLEAN, NEAT, RESPECTFUL, etc.; can get plenty of excellent references;...... If some of these steps are taken, it would be beneficial to everyone. Maybe the Realtor wouldn't get their big commission right off, is that why they do not introduce these options to the homeowners with a positive introduction? It's a fantastic Selling and Buying outcome! BUT! MAKE CERTAIN YOU HAVE EVERYTHING IN WRITING AND SIGNED!! I MEAN EVERYTHING, EVEN IF IT IS AS SMALL AS YOU ASKING IF A FLOWER POT IS WITH THE PURCHASE, HAVE THAT TINY REMARK "INITIALED" BY THE AGENT. I'll explain what a horrible, horrific, deal we had done to us just because we believed when we were told, "you can take my word for it, I'm a man of my word". WRONG!! We were lied to, lost the complete deal, lost all escrow monies (we do know that money was NEVER set aside in escrow), lost everything we put into the home including money to be taken off the purchase sale, they were to report to the Credit Bureaus, never did and didn't inform us until 2 years were up and they knew from the beginning they had to report in order for us to purchase the home, I called 1 year ahead before the end of the Lease and advised we know our credit scores are not up to what they need to be in order to purchase since you didn't report so what is going to happen, are you going to work with us no matter what so we can one day purchase the home? He said I told you I would work with you no matter what, even if that means rewrite the Lease because as far as I'm concerned the house is yours, I don't want anything to do with it, and don't worry you still have another whole year. I asked if he was a man of his Word..... His reply, "absolutely! What I say, I mean. I am a man of my word so you have nothing to worry about, I told you the day we did the lease, it's now your home, didn't I? Yup! He did! But that didn't make any difference without it in writing! So please take this advice and our hard times and please learn from our very horrible and shameful mistake. Now he will not even write a letter in regards of us paying faithfully on the second Tuesday of each month for 3 years. He will not even show proof of the Escrow, because he never did it! In the beginning he could only do $150 each month in Escrow for 3 years because of Uncle Sam getting wind of it. And his Bank! Now those two comments right there should have flown up a red flag that he wasn't honest! Right! Now we both were in long marriages, mine 23yrs, and nothing but lies among other issues, and that's why we cannot tolerate liars. Now In these 3 years had we known that "WORD OF MOUTH" was going to go back on everything, we most definitely would never have wasted 3 years of our lives, we would have been proceeding with other options and elsewhere. SO PLEASE BE AWARE OF EVERYTHING, HAVE EVERYTHING IN WRITING AND SIGNED/INITIALED, NO MATTER HOW LITTLE IT MAY SEEM.
By Theresa Henton,  Sun Nov 23 2014, 17:59
So very sorry for your loss Trixiemckay. That is awful of what this person did for you. If you are ever in the market again let me know what you are looking for in a home and maybe we can help you out. My partner and I are investors, however we back up our deals with contracts. My name is Theresa and my Partner is Wes. 816-714-6868.
By Next Buyer,  Mon Dec 1 2014, 09:15
There are many online real estate information services to help you to find properties with great potential bargain. To do a quick title search, find out ownership information or even tax, liens, foreclosure and mortgage record, go to http://www.nextace.com
To get a free property report on your subject property, go to http://www.searchq.com
By Home Searcher,  Wed Jan 7 2015, 08:36
As a small time RE investor, I have few DIY title searches at http://www.nextace.com recently. The website seems meeting my expectations. I only paid 49 bucks for a preliminary title report that has ownership history, mortgage record, tax and liens information. When you have title report on hand, you can contact the owner, the bank and so on...
By Mark Saunders,  Thu Feb 5 2015, 09:49
seek out a great title company
By evsouthwind,  Mon Feb 23 2015, 15:46
have anyone heard about rich dad education for real estate investment? I was on a seminar past weekend in Las Vegas, they were selling trainings different packages from 12,000 to 48,000 of course at a discount price saving up to 43% if you pay the same weekend, and they have a software for $2,600.00 with access to all the foreclosure and pre foreclosures on USA, ? have anybody used this software? and /or the classes
By Chaim Brooks,  Sun Mar 1 2015, 17:56
This pre-foreclosure term sounds like FSBO (Fizz-Bo) or For sale By Owner. If a property isn't foreclosed where the lender is selling it at a public auction, then it's for sale by the owner or their agent. How can you call something that isn't sold by saying it's a pre-sale or pre-sold? Therefore pre-foreclosure is another term for FSBO or property for sale.
By georgemozes,  Thu Apr 16 2015, 10:34
I believe there is a difference between a pre-foreclosure sale and FSBO. FSBO is a straight, traditional sale by owner, when usually there is no pressure to sell.
In a pre-foreclosure sale, the owner is already under the water, in danger of loosing the home, with the lander already on his back.
By tricia,  Sun Jun 21 2015, 10:47
Aren't pre-foreclosure sales actually Sheriffs Sales?
By Ricardosmart54,  Thu Jul 23 2015, 04:17
Do you and urgent loan today? email ricardosmart54@gmail.com form more info.
By Lightning501,  Fri Aug 21 2015, 10:26
We give out loan on a minimum of $3,000 and to a maximum of $550,000,000 and you are advise to furnish us with the loan amount you will need to finance your project.

First name:
Last name:
Total Amount Needed:
Loan Duration:
Zip/postal code:
Monthly Income:

Filled and returned, i believe it will be enough for us to proceed
with this transaction. then the loan terms and conditions will be
prepared and sent to you Asap.

I awaits your next email.
Mr Mohamend Malik

email : mohamendmalik@gmail.com
By warden204,  Wed Sep 2 2015, 20:27
Owner is deceased, home is in pre foreclosure, no one from bank returns calls, can not reach anyone from family, and lawyers are no help? What can we do to get info. on this home we really want to buy? Thank you
By Johnpotto4,  Mon Sep 14 2015, 12:21
Do you need a comfortable loan to your satisfaction? We are based in USA, We offer affordable loan at 3% interest rate available for local and international borrowers . We are certified , trustworthy , reliable , efficient , fast and dynamic and co - operate. we give out long term loan from two to fifty years maximum. contact us at: johnpotto4@gmail.com
By Melissaljohnston,  Fri Sep 25 2015, 17:58
I would be a cash buyer if someone could contact me to look at this property,
By Ppccompany,  Sun Oct 4 2015, 19:50
why does an investor feel it's ok to misrepresent themselves and say they are from the bank and that your being evicted when in truth he's a real estate agent and then feels he has the right to harass you. by coming up to your car parked in your own driveway while your pulling out saying if you don't talk to him, he's going to follow you. I told him he can follow me to the police station and he's and knocks excessively for twenty minutes at a time or your door every couple of days this is harassment and I am pressing charges against him and my house is not in foreclosure or pre foreclosure.
By Chandlerj260,  Wed Oct 14 2015, 10:54
Hello friends!!! My name is Jeff Chandler. i want to testify of the good Loan Lender who showed light to me after been scammed by 3 different Internet international lender, they all promise to give me a loan after making me pay alot of fees which yield nothing and amounted to no positive result. i lost my hard earn money and it was a total of 4,560,000USD. One day as i was browsing through the internet looking frustrated when i came across a testimony woman who was also scammed and eventually got linked to a legit loan company called Lynn Vannessa Loan Company and email (lynnvannessaloancompany@yahoo.com ) where she finally got her loan, so i decided to contact the same loan company and then told them my story on how i have been scammed by 3 different lenders who did nothing but to course me more pain. I explain to the company by mail and all they told me was to cry no more because i will get my loan in their company and also i have made the right choice of contacting them. i filled the loan application form and proceeded with all that was requested of me and to my shock I was given a loan amount of $60,000.00 Dollars by this great Company (Lynn Vannessa Loan Company} managed by Mrs Lynn Vannessa a God fearing woman and here i am today happy because this company has given me a loan so i made a vow to my self that i will keep testifying on the internet on how i got my loan. Do you need a loan urgently? kindly and quickly contact This great company now for your loan via email: lynnvannessaloancompany@yahoo.com she is kind hearten.

i remain Jeff Chandler............
By Margretmccolister,  Sat Oct 31 2015, 19:55
Hello Everyone, I am Mrs Margret McColister a single mom from dudelange in Luxemburg, i will like to share this great testimony on how i
got my loan from Loan Company when we were driven out of our home when i couldn't pay my bills any more,
After been scammed by various companies on line and have been denied a loan by my bank and some other credit union i
visited. my children were taken by the foster care, i was all alone in the street. Until a day i shamefully walked into an
old school mate who introduced me to Martha Ingram Loan Firm At first i told her that i am not ready to take any risk
of requesting a loan on line any more, but she assured me that i will received my loan from them. On a second thought, due
to my homelessness i took a trial and applied for the loan, luckily for me i received a loan of $50,000.00 from
(marthaingraminvestments@gmail.com). Am happy i took the risk and applied for the loan. my kids have been given back to
me and now i own a home and a business of my own. All gratitude goes to Martha Ingram Loan Company for giving a meaning
to my life when i had lost all hope.
By Robertjessica81,  Thu Nov 12 2015, 15:49
Good Day,

My name is Jessica Robert from Texas ,USA ,I am here to recommend you all in need of financial assistance to contact Mr Mark Clifford for a loan, He is a legitimate loan lender, He gave me 20,000$ loan after decline by most bank due to my bad credit,i got in contact with Mark yesterday morning for the loan application and my loan was transferred to my bank account today,

Email Mark now for a loan on his email: markloans03@gmail.com

You can also contact me on my personal email for confirmation about the loan i just received: robertjessica81@gmail.com

Jessica Robert
By Joycemyersloancompany,  Thu Nov 19 2015, 22:48
Do you need a loan to start your business ? Do you need a loan to pay
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By Alansmith.smith60,  Tue Dec 1 2015, 09:34
Hello Everybody, My name is Lynn Deborah. I live in USA Florida and i am a happy woman today? I told my self that any Loan lender that could change my Life and that of my family, i will refer any person that is looking for loan to Them. i am very happy i got loan from south africa Republic. If you are in need of loan and you are 100% sure to pay back the loan please contact them and please tell them that Mrs, Lynn referred you to them. alansmith.smith60@gmail.com
By Patrickbensonloaninstitute229,  Thu Dec 10 2015, 18:58
Am so happy right now,i could not believe my eyes,i just got my loan valid sum of $50,000usd from Mr Damond Stefan Loan Company, after what i went through in the hands of those fake lenders that ripped me off,Please i want you all to join me and pray for this God fearing man Mr Damond Stefan,what will i have done if not for him..i can't just keep this good testimony to myself,so i decided to let the whole world know the goodness of Mr Damond Stefan Loan Firm,if you know you are still out there looking for the right company where you can apply for loan,you can urgently contact them now via Email(damondstefanloanfirm07@gmail.com ) i know they we also help you as the did for me,God bless you all..
By Oyeyetemple,  Sat Dec 12 2015, 14:18
We are universal hackers and we just succeeded with an illegal invention.. well, this seems strange but true.. we just succeeded with hacking universal ATM machines with a blank ATM card.. These cards could withdraw $5000 per day, depending on how they are programmed..say goodbye to poverty, these cards are just for you.. we know this is illegal but we are living large with it.. i do many things on low key to avoid suspicion..i am not going to give out the blank cards for free because we spent most of our time hacking it.. so, we want to make them available for you.. NOTE: The ATM cards has no registered account number, they can work anywhere in the world, and they are untraceable..if you need them, email me on benedictanderson06@gmail.com
By Sherly.schuster,  Sat Jan 9 2016, 18:32

I came across so many comments of a blank ATM card worth's millions, thus i doubted all this but there was this comment made by Lambert Harold including his email for confirmation regarding the card. I contacted Lambert and he told me everything and how he purchased the card from GREAT HACKERS. immediately i contacted the email address he gave me {Hackedcredits.atmcards.net@gmail.com }. Few hours later i got a response and was told all the processing which i agreed willing to see the end. Three days later i received an email regarding my tracking number to my parcel and before i knew it, the CARD was delivered by the courier service. I did not believe all this even when i was holding the ATM card, until i was able to withdraw the $7,000.00 he told me i can withdrew per day. Today i am a company owner with so many other properties, all thanks to GREAT HACKERS. I took time to make this comment to avoid anyone falling into the hands of scam, so i advice you never to contact any other ATM card seller expect this very man because he is for real. Contact him today via email{Hackedcredits.atmcards.net@gmail.com }
By Ktn628,  Sun Jan 31 2016, 11:16
Why can't we, interested home buyers and stressed home sellers have a website where we can exchange trades that are fair for both sides. It someone hacks to cheats, the name would be kicked out.
I do not trust banks, realtors and the whole real estates thing is a mess, a scam. they created the system to suck money from honest people like you and me
By Bendanoalfaras,  Wed Feb 3 2016, 14:39
Hello everyone. There is a new way of making cash, although it is illegal but also a smart and easy way of living big. I used to be a barrack girl until i became eager and decided to change my life one way or the other. I got opportunity to register for the militant amnesty through connection thereby taking me out of the country for training in the United States for a period of 3years. To cut the story short, during my training i made some white friends who were geeks and also experts at ATM repairs, programming and execution who taught me various tips and tricks about breaking into an ATM. with my knowledge gained from my white geek friends, i have been able to counterfeit and programme a blank ATM card using various tools and software's. I have ready-made programmed ATM cards; I am just 29, my family are in USA and i have cash, i have a car, i live in Malaysia and i travel all around the world. i do my things on a low-key to avoid suspicion. Some of you will wonder why i am selling this out if truly i am already living large. It is because it is hard task doing it yourself, i wont lie to you, its not easy to hack ATM talk more of to reprogramme the card alone and be able to get $40,000 each day. It takes days and sometimes weeks. Some of you will want the ready made card to avoid the stress of doing it yourself and i don't give the ready made card out for free because i spent days trying to make it available for you. e-mail me. edwardhackersworld55@gmail.com for request of the ATM NOTE: the ATM card has no pin, no registered account number. It has no limit for withdrawal and it is untraceable. edwardhackersworld55@gmail.com
By Jrocklove01,  Thu Feb 4 2016, 23:22
I am Mrs Jane rock and i want to share my testimony on how i got the blank ATM card. I was so wrecked that my company fired me simply because i did not obliged to their terms, so they hacked into my system and phone and makes it so difficult to get any other job, i did all i could but things kept getting worse by the day that i couldn't afford my 3 kids fees and pay light bills. I owe so many people trying to borrow money to survive because my old company couldn't allow me get another job and they did all they could to destroy my life just for declining to amongst their evil deeds. haven't given up i kept searching for job online when i came across the testimony of a lady called Vanessa regarding how she got the blank ATM card. Due to my present state, i had to get in touch with Hacking organization and i was told the procedures and along with their terms which i agreed to abide and i was told that the Blank card will be deliver to me without any further delay and i hold on to their words and to my greatest surprise, i received an ATM card worth $4.5million Usd. All Thanks to the{walmatatmservices@hotmail.com}.You can also contact him on his Tel: +2348169340571
By Cindyf232,  Fri Feb 5 2016, 08:59
God bless everyone that cares to listen and take the right part in getting his or her loan and not fall victim. why am i saying this, i am saying all this because there are many testimonies on the internet which are either true or false but i tell you today, after all i have passed through in the hands of scams i will not fail to announce this God fearing lender who helped me out of my diverstating condition when i lost my Job and couldn't pay my children's fees, after been denied loan due to bad credit by loan sharks and other credit unions i visited, my bills where behind and we were about to be throne out of our house but as God will have it i logged on my Facebook to seek for help from friends and family members all to none avail. while still on Facebook i saw a testimony by one Celina wheels who once had similar problems and got her life transformed by this same lender. Immediately email them at: hm32501@gmail.com and behold i received my long desired loan within 48hrs of processing and i am grateful to God almighty for bringing such a lender across my way. TEL:(+1)904-513-0194
By Nigeriacourierdeliveryse,  Fri Feb 5 2016, 13:09
I have just taken out my first personal loan and i must say i am extremely impressed as to how straightforward the services is.

All i had to do was applied and filled out the application form and submit it! I was then told in about 10 minutes that i was

accepted and that the funds has been approved and on the way to my bank after submitting the required information's and i

received a loan of $35,000 USD! Extremely impressive. Now i have my own car and also have my own business thanks to

DANIEL SILVA LOAN INVESTMENT. Apply for your loan today without any stress with DANIEL SILVA LOAN INVESTMENT

email them now on (danielsilva_investment@hotmail.com). Thanks.
By Nigeriacourierdeliveryse,  Fri Feb 5 2016, 13:25
I have just taken out my first personal loan and i must say i am extremely impressed as to how straightforward the services is. All i had to do was applied and filled out the application form and submit it! I was then told in about 10 minutes that i was accepted and that the funds has been approved and on the way to my bank after submitting the required information's and i received a loan of $35,000 USD! Extremely impressive. Now i have my own car and also have my own business thanks to DANIEL SILVA LOAN INVESTMENT. Apply for your loan today without any stress with DANIEL SILVA LOAN INVESTMENT email them now on (danielsilva_investment@hotmail.com). Thanks.

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Buying a property in pre-foreclosure involves approaching the borrower/owner and offering to buy the property outright. It is during this time that an investor can typically make the largest profits and can negotiate a deal that may be favorable for all parties ...


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