Step 3 Selling The Preforeclosure Owner On You
submitted: Aug 13th 2008 |
by: LarsonFrazier |
Total views: 1 |
Word Count: 540 |
| 
What is a preforeclosure? A preforeclosure is a property whose owner has defaulted on the loan payments and whose lender has initiated the foreclosure procedure, usually starting with an official "Notice of Default" to the owner. A preforeclosure property exists during the first stage of the legal procedure, and therefore still belongs to the owner.Lance Young has been an active real estate investor since 1987.
Can I buy a homeowner's house at a deep discount if he has a bank loan? The homeowner must repay his bank loan when he sells you his house. This means you will need to find preforeclosure houses that have small bank loans on them. The course shows you a very easy way to do this. In fact, it takes less than 10 minutes a day ! For example, if a house were worth $200,000 and the homeowner only owed the bank $100,000 you would want to contact him about buying his house.
What does "Sold to 3rd Party" mean? A sales status of "Sold to 3rd Party" means that the property was sold (probably to a user of either at auction or during preforeclosure.The homeowner must repay his bank loan when he sells you his house.
How much money can I expect to make on my first deal? Buying preforeclosure and probate houses at 35% to 50% discounts will allow you to make big profits. You can realistically expect profits of $5,000 to $15,000 on each deal. It is not uncommon for first-time investors to make $10,000 or more on their very first deal. Just ask W. Davis of Philadelphia, PA. He recently made $20,000 on his first preforeclosure deal! Prior to getting my courses, Mr.The Carleton Sheets program (sometimes incorrectly spelled as Carlton Sheets) contains basic real estate information. It touches on many subjects but does not give you the detailed information you must have to make money in real estate.
Can I buy a homeowner's house at a deep discount if he has a bank loan? The homeowner must repay his bank loan when he sells you his house. This means you will need to find preforeclosure houses that have small bank loans on them. The course shows you a very easy way to do this. In fact, it takes less than 10 minutes a day ! For example, if a house were worth $200,000 and the homeowner only owed the bank $100,000 you would want to contact him about buying his house.The homeowner must repay his bank loan when he sells you his house.
How can I find preforeclosure and probate houses? Online listing services publish lists of preforeclosures in your area. This is a fast and easy way to find preforeclosures. Click here for a free 7 day trial to our online listing service. The course gives you examples of actual foreclosure notices. The examples show you exactly what to look for. You will be able to find profitable deals in less than 10 minutes a day ! You also get complete information on how to find hundreds of probate houses in your area.We believe we have the most accurate count of real foreclosure opportunities in the business. We only include Notices of Default (as Preforeclosure opportunities) for 120 days after they are issued.
About the Author
The last thing you ever want to get is bad or outdated
Comments
No comments posted.
You do not have permission to comment. If you log in, you may be able to comment.
