Oni in Ruby,
You have selected two methods of home sales that sound similar (Pre-foreclosure & Foreclosed) but are the extremes in complexity.
A foreclosure can be purchased quickly and easily for those who are decisive.
A pre-foreclosure is the most complex, convoluted, illogical, opaque, frustrating and abusive process known in the entire real estate industry. AND there is NO good faith partner on the other side.
To ask a question with both type in it creates a situation that can not be responded to adequately.
What you must do is pick up the phone and call a REALTOR and discuss your purchase objectives and the options available to you. Very few buyers are made of the fabric required to see a pre-foreclosure (short sale) through to the end.
I closed on a short sale yesterday. The buyer having endured an extended season of abuse and betrayal, was on his last nerve at the closing table. Were it not for my willingness to pay from my pocket justified fees for which he was obligated to pay, he would have walked away from the table.
Short sales are not for everyone.
Now, let chat about HUD homes. Call your Meadow Woods REALTOR about these opportunities.
I am looking for only one house, price range 65 K to 75 K, year built : not Older than 2000, property type: condo, location: In Orlando, or close to, in a very safe neirgbohood, Condo facilities: Pool,Central air cond, taxes: no mor than 800.00, HOA, no mor than 220.00, Master assoc no more tha 150.00, Better if I donÂ´t have to pay it. Easy to be rented, two bed rooms +, two baths +, rent to be earned : not less than 800,00 . I will pay cash, no morgage is needed.... more