Asked by Jon Olson, San Diego, CA • Sun Feb 1, 2009
I have discussed with several real-estate savvy people recently the prospect of buying a home via quit-claiming deed's of pre-foreclosed homes for a cash offer on the home owner's equity in the house. If a home is in pre-foreclosure yet still has a reasonable amount of equity in the home, is it legal or even possible to approach these homeowner's to make a cash offer on their homes for the total debt on the home plus a negotiated amount?
What are the legal hurdles and the added paperwork needed to close a home like this, especially if I have cash or possibly a third lender with an already pre-approved amount?
Real Estate in San Diego
Popular Categories in 92130
Email me when…
Success! Your email alert settings have been saved. Access all your email alerts in your My Trulia account anytime!