Pre Foreclosure Homes

To buy at the pre foreclosure stage, you would buy the property after the foreclosure process has been started but before it's completed. You may be able to get a bargain at this stage and at the same time help the homeowner out of a real bad situation. Of course there are some pitfalls:

  1. You'll need to deal with homeowners at their most vulnerable point. They are being threatened with the loss of their homes. In addition, they know they won't be able to buy another one for a long time.


  2. You'll also have to contend with scam artists who are trying to steal homeowners' equity and property. For that reason, homeowners will be very skeptical about dealing with you.


  3. You'll need to work with time constraints set by the fact that the foreclosure process is looming. You'll need to figure out how much time you have by looking at the foreclosure papers.


If you decide, you want to work at this stage you'll need to know when a homeowner has gone into default, so that you can try to negotiate with him/her. There are many lists available on the internet and in the classified sections of newspapers that will tell you when someone enters the foreclosure process. You can also find this out by visiting your county recorders office.



Click here to look at listings of pre-foreclosures. Click here to return from the "pre foreclosure" page to the "how to buy foreclosure homes" page.


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