I can assist you if you are looking in Southern California. 98% of my transactions are short sale or bank owned.
I am HAFA certified, licensed Broker by California department of real estate and member of National Association of Realtors, California Association of Realtors.
For more info please visit http://www.GlobalRealtyandLoans.com or call toll free (866)962-9889.
THE BEST PREFORECLOSURE DEALS LOCATED IN MY BLOG
Preforeclosures can be a couple of different situations:
1) In process with a bank to be placed on market as a foreclosure. (most typical)
2) A short sale. (possibly also in foreclosure) Property being sold by owner for less than what is owed.
In either case you should have your agent check into the homes for you. If you would like info on homes in process (item 1) above send me an email & I can get you some information.
If you think it might be a "short sale" then you should ask your agent for the following info: Who is/are the lender(s). How much is owed? Has a "short sale package" been provided to ALL the lenders? Are there any competing offer?
Pre-foreclosures can be good values. They can also be "money pits"; the watchword is to be CAREFUL.
2943 Foothill Blvd.
La Crescenta CA 91214
You need to call an agent that knows what they are doing. Pre-foreclosure is a fancy name for a home that has been given a notice of default. In some cases the homeowner pulls money out of some other account and gets their mortgage back up to date. In other cases the homeowner files for a loan modification. Some who have been given a notice of default actually have equity in their home. If they decide to sell, it will be a regular sale. Finally, there are those who are underwater, cannot get or do not qualify for a loan modification, and they have no means to bring their mortgage up to date. These are usually listed as "Short Sales" on the MLS system.
If you want to buy one of these homes, you can ask your agent to put in an offer on them. If you don't have an agent, please give me a call. If you want to make an offer on a home that has been given a notice of default but that has not yet been listed, give me a call. I can give you a list of homes, we can drive by them, and if you like one and would like to make an offer, I can approach the homeowner and explain that I have an interested buyer.
I live in Montrose, so please give me a call or email me.
There is not very much inventory in the Montrose, La Crescenta area, so most properties that have owners in trouble tend to sell as a short sale instead of foreclose, which is less expensive for banks. One way to look at it is that a short sale is like a pre-foreclosure. If the property does not sell short, then it will be foreclosed eventually.
If you'd like to see distressed sales in the area, let me know what you are looking for and we can find some properties that match.