DISTRESS SALE – BANK SALE – FORECLOSURE

What is a foreclosure?

It’s a legal action taken by the mortgage holder against a homeowner, when the terms of the contract
Are not fulfilled. The homeowner defaults on payment and cannot live up to the demands of the loan
Agreement.

Reasons for Foreclosures?

• Job loss
• Economy
• Divorce
• Health
• Financial mismanagement
• Business loss
• Interest rates etc etc

Why take foreclosure actions?

The goal is to take over the possession of a property from the homeowner and sell it in the market
To pay of the balance of the loan.

Some Sources for Foreclosures

• Reports
• Newspapers
• Advertisers
• Magazines
• Your realtor
• Banks
• Newsletters etc etc

Opportunities In a foreclosure Sale?

• Cost savings / Price reductions
• Lower purchase price
• Lower down payments
• Less competition
• Better terms ( mortgage )
• Get more for less
• Motivated sellers & lenders etc etc

Some Quick Tips to deal with foreclosures

• Build a support team you are comfortable with
  
  Every experienced investor establishes a solid support team that consist of real estate agents, lawyers, lenders & accountants.
  They in turn understand the investor’s motives and support the investment initiates and decisions.
   
• Review the documentation thoroughly
  
  Properties will have liens and encumbrances registered against them, ask for a title search. Last thing you want is to be paying for
  The debt.
  
  Prepare Itemized list of repairs and expenses to negotiate with lenders.
  
  Less $ 5,000 for repairs
  Less $ 10,000 for liens
  Less $ 4,500 for closing expenses etc etc
  
  Then start to negotiate at 1/3 of the debt amount!
  
  “Don’t forget to take pictures and document your findings.”
   
• Evaluate your selection and determine the Potential
  
  Make sure it meets your investment objectives, if your thinking of using it as a rental property then it should meet Your income objectives.

“Foreclosures often are a great way to get an outstanding deal on a home and save thousands of dollars.It’s not easy for the average home owner to find these deals, because you have to go looking Through mountains of papers just to find “ONE” and simply the “TIME” which majority of people just don’t have”.

If you’re interested in investing in foreclosure properties I will send you a list of current foreclosures in your area
By what ever method you would like. (fax, email, mail ) “This will give you a huge advantage over other buyers in the market place.

Or simply if you would like to learn how these Foreclosure properties can be part of your wealth when investing in Real-estate! Complete the form & just click the” submit” button at the bottom of this page.

Then you’re automatically plugged into the most current list of foreclosures on the market, in the price range and area that interests you!