Pre-foreclosure homes are houses in transition from default to eventual foreclosure proceedings. Finding pre-foreclosure listings online or offline is an ideal way to get a heads-up on great deals.
It isn’t a good idea to just jump at a great deal, however. After all, you still need to get all the details about a property before committing to a sale. To find a pre-foreclosure home for sale, follow these steps:
Search Public Records
During the foreclosure process, people file different notices with the county clerk at different times. Search at the county clerk’s office or go through a company that offers information about pre-foreclosures, like RealtyTrac. When looking through the available information, search for notices such as Notices of Default (NOD), LisPendens, or Notices of Sale.
Search Online Information
Type “pre-foreclosure listings” into any search engine to search for information on the Internet. With this method, you can get a myriad of websites that offer listings.
Contact Local Banks
Contact local banks and talk to the collections or asset-management department if possible. Ask if they can provide you with a list of pre-foreclosure homes. With banks considering these properties as burdens, they’ll likely share the necessary information to expedite the unloading process on your end.
Contact Real Estate Agents
Many real estate agents have pre-foreclosure properties listed. In the off chance that they don’t, they likely have contacts at banks and mortgage companies that can provide the necessary details.
Even though pre-foreclosure properties are a great deal, there’s no sense jumping at them if you don’t have all the important information. With that said, look for an ideal property while gathering all the necessary details.
