There are 4 distinct stages of the foreclosure process. At any of them, you can implement strategies to get a house with a deep discount. Let’s discuss each of them and in the video, you will see strategies to use.
PRE-PRE FORCLOSURE:
This situation is BEFORE the Notice of Default is filed. It is not common knowledge and not public. When a home owner misses their very first payment, the bank will send out a “Bank Field Inspector” to take a picture of the property, make a note and drive to the next one. They often don’t get out of the car. Think about this for a moment, only the Owner and the Bank know a problem exists! So how do you learn about these distressed families. Watch the video for detailed explanation.
PRE FORECLOSURE:
This situation is WHEN the N.O.D (notice of default) is filed and now it is public knowledge. The whole world knows about the pending foreclosure. In Arizona, it takes 90 days from NOD to the Auction. Watch the video for detailed explanation.
AT THE AUCTION:
Generally, I don’t recommend new people to bid at the auctions. Its too dangerous when you are new. I tell my new Students to attend just to meet the wholesalers and hard money lenders. Later, when you are more seasoned, it will be safer to bid. Watch the video for detailed explanation.
POST FORECLOSURE:
One of two things happens at the auction, the property is sold to an investor or it goes back to the bank. You can buy from the investor or you can buy from the bank. Watch the video for detailed explanation.
If you need to buy or sell a home, see us at www.5kflatfeelisting.com. We look forward to hearing from you.
Buyers get: Sellers get:
FREE Home Inspection 5k Flat Fee Listing
FREE Termite Inspection FREE Home Inspection
FREE Home Warranty FREE Termite Inspection
Best,
Geoff Nowlin, Phoenix Realtor Brett Young, Cleveland Realtor
480-466-3737 (216) 703-5740
www.5kflatfeelisting.com by56083@gmail.com
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