|Real Estate Information|
Death, Taxes, and Foreclosures
So how do you find the best foreclosures. Its not easy as the business is very competitive, especially in this current crazy real estate boom. Firstly you must be methodical as well as diverse. Deals are all over the place. It is recommended you specialize in an area that you are familar with.
Secondly how do you find inventory?. There are many companies that offer foreclosure lists. You will find them on the web or through a title company. Be careful to locate fresh leads. In other words you need fresh daily leads on Defaulted and Trustee sale properties. If you purchase information that is outdated you may not succeed as the property may sell, be re-instated or refinanced prior to your endeavors to contact the current owner.
Thirdly, defaults, these are loan defaulted properties. The owners of the properties have not paid in 3 months and have been notified that their property could be sold at public auction if they do not re-instate their loan. You are endeavoring to purchase the property prior to Trustee sale. Once you have located a property, made contact with the owner you now need to contact your escrow and/or title company for comparable sales and vesting information. It is important that not only you know what the property is worth BUT more importantly you are going to speak with the OWNER.Vesting will tell you this vital info. After you have satisfied yourself that a possible purchase exists you may request a prelimanry title report that will give you all the information on outstanding loans , liens ,judgements and court actions against the property Fourthly. How to make contact with the owner. This can be done via mailers, phone calls and the most important,DOOR KNOCK.Meeting the owner is the beginning of the 'close'. This is where they will begin to trust you. NO TRUST NO DEAL. Your offer must be a combination of price, accommodation,(helping to move them on), empathy, immediate assistance to support their dire needs. You will see the true picture by the DOOR KNOCK'.
Fifth. The DEAL. So you have come this far WOW, You have made entry into the house, inspected and the seller likes you and wants to do business, the deal is fair, the docs are ready to sign. You have previously contacted your escrow/title company and/or attorney and they have guaranteed that you have all the right docs ready to be notarized. RIGHT! CONGRATULATIONS your in the real estate foreclosure business.
A final tip, make sure the seller /client MOVES OUT,the old saying 'POSSESSION IS 9/10ths of the law' still holds. Have the escorw company hold funds until the property is vacant.
When the movers truck is full, house empty, seller off the property and you have the keys. Release the funds. NOW YOU REALLY OWN THE HOUSE.Sixth.Trustee Sale properties. If the owner has not re-instated the property prior to the trustee sale date (5 days prior to sale in California) then the property will sell at the nominated court house steps on the date and time posted by the trustee. If you are successful in being the highest bidder you will receive a Grant Deed to the property. This is a popular hassle free way to buy foreclosures as you do not have to deal with the owners and possible associated problems. But of course if ITS EASIER THEN EVERYONE WILL BE AT THE TRUSTEE SALE.
For further Info and advise go to; http://www.homeowneresaa.org.614
Peter M Smyth ,a licensed Californian Real Estate and Mortgage Broker. Peter has been involved in the real estate, mortgage lending and distressed property sale business for over 20 years.He has successfully purchased & sold propeties on four continents. Australia, Asia, Europe and North Americaemail firstname.lastname@example.org for advise and business opportunity.
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Escrow From a California Homeowners Perspective
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Purchasing Florida Investment Property And Various Considerations
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Real Estate Investing: How to Choose a Lender
To become a successful real estate investor it's vital to have a long-term relationship with a good lender. Having a flexible lender who knows your needs and objectives can be the difference between success and failure in your investment career.
Tenant/Buyers Have Multiple Options
Lease Purchasing affords the tenant/buyer a wonderful opportunity to get into a home today, that he or she can buy tomorrow. But what options are available at the end of the contract? Fortunately, Lease Purchasing provides multiple options here also.
Real Estate Inspection - Do Your Own
Why should you do your own real estate inspection? To get a better deal. It isn't necessary to learn building codes, and you probably should use a professional inspector in any case.
Best Time to Buy? Best Time to Sell?
When is the best time to buy? When is the best time to sell? I get asked these questions constantly everywhere I go. In short, the answer is that it depends on your individual circumstances.
For Sale By Owner: The Inside Scoop On Selling Your Own Home
If you're thinking about selling your home perhaps the 'for sale by owner' signs posted on neighborhood lawns have intrigued you. When you browse the newspaper listings you see ad after ad boasting 'for sale by owner' as an added incentive for buyers and you envy the owners that are confident enough to try it.
The Ultimate Short Sale Secret
Buying foreclosures can be extremely profitable for real estate investors. However, most of these homeowners are mortgaged to the hilt.
Making it affordable: Nine tips for first time home buyers
It seems that everyone loves a good real estate story. The media is filled with reports about soaring property values and home owners of modest means becoming instant millionaires when they sell.
Investing in the Baltic Tiger: What Has Estonia Got to Offer?
Estonia's reputation is growing within the property investment market. Rising far above her new European neighbours in terms of infrastructure and growth, Estonia is fast becoming the Baltic's very own 'Tiger' economy with a healthy growth rate of 5.
Renting a House
Renting a house or a room in your home is a great business that millions of people take advantage of to make some extra cash. While many people rent houses each year, not all of them are successful.
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