Search Guide

Finding pre-foreclosure properties

Aug 26, 2013 - 1 Min read
admin
Real Estate Expert

Where to Start with Pre-Foreclosures

It’s important to get up-to-date pre-foreclosure information and act on it as quickly as possible. RealtyTrac subscribers can access our daily updated national database of pre-foreclosure properties online. Subscribers can also set up daily alert e-mails to be notified of new property posted on RealtyTrac.
The benefits of developing a system

Develop a system to keep track of properties that interest you. A good tracking system is important since most pre-foreclosure buyers pursue many properties sometimes over a period of several months. RealtyTrac subscribers can print out property details, save properties or download properties into a spreadsheet.

Zero in on the Target

After you find a property online, it’s a good idea to drive by the property to get a better idea of the property’s condition and the type of neighborhood. For some buyers and investors, driving by the property has also facilitated a casual meeting with the owner or yielded a wealth of unexpected information from a talkative neighbor.

You might also like
Check Potential Pre-foreclosure Bargain
1 min read Check Potential Pre-foreclosure Bargain How much is owed on the property and if the owner has any other liens against the property. This is all public information and you can research on your own with the county recorder or you can use RealtyTrac’s property reports and tools to help. This process should not take more than a day or […]
Closing the Deal
1 min read Closing the Deal Once you’ve arrived at an agreement with the owner in default, the foreclosing lender and any other lien holders, you can put the agreement in writing. If you’re not familiar with how to draw up a purchase agreement, you should have a local real estate agent or real estate attorney help. Any purchase agreement should […]
Confirming pre-foreclosure status
1 min read Confirming pre-foreclosure status When a property enters pre-foreclosure, the owner usually has at least 2-3 months to pay off mortgage debts and reinstate the property. If the owner pays off the debt, the reinstatement stops the foreclosure process, so it’s important to find out if a property has been reinstated before proceeding. The best way to check if the […]