Pre-Foreclosures
North Livermore Community
A house in pre-foreclosure is defined by the fact that the owner has missed at least 3 consecutive mortgage payments and has been notified by their lender, in writing, that the lender is considering foreclosing on their home. There are numerous foreclosure sites online to help you locate houses in pre-foreclosure. Some of these links are provided below. In order to consider purchasing a home in foreclosure the potential buyer should:
· Contact the owner directly.
· After establishing the fact that the owner would like to sell then evaluate, inspect, and determine market value on the property. Research and make sure that the property presents a good financial opportunity for you. Find out what the house is worth. Find out what the owner owes on the property.
· Investigate and establish that clear title can be passed from the owner to the new buyer. Make sure that the property is free and clear of all and any liens, such as tax liens, mechanics liens, Federal and State liens, business liens, etc.
· Propose an “equity buyout” to the owner, which is an offer, or purchase contract, where the new owner buys the house by offering the owner a percentage of the equity that they have in the house.
We can help you with the entire process of buying a home in pre-foreclosure.
For your convenience please use some the below listed links.
Get more info about foreclosures at my other website!!
