I have clients and others calling me and saying, "We are in the market to purchase a 3 bedroom, 2 bath home in a nice area. Is it true we can get a good deal on a foreclosure?"
Almost everyone knows someone who has a friend who bought a home out of foreclosure and immediately picked up $100,000 in equity. Right? And everyone is talking about all the foreclosures around the country. So why not buy one?
Trying to find a good home in a nice area at a steal of a price is a bit like searching for a needle in a haystack. Believe me, it is very time consuming to do your due diligence on all the possible pre-foreclosure and foreclosure homes, then to narrow it down to the few possible good deals, then to find the owners and try to cut a deal. Many of those owners are still trying to save their home from foreclosure, and some will get a loan to reinstate, or work out a forebearance with their bank, or sell their property to someone else at a reasonable discount, but not a discount of $100,000.
I have written several articles on foreclosures for your reading pleasure:
Almost everyone knows someone who has a friend who bought a home out of foreclosure and immediately picked up $100,000 in equity. Right? And everyone is talking about all the foreclosures around the country. So why not buy one?
Trying to find a good home in a nice area at a steal of a price is a bit like searching for a needle in a haystack. Believe me, it is very time consuming to do your due diligence on all the possible pre-foreclosure and foreclosure homes, then to narrow it down to the few possible good deals, then to find the owners and try to cut a deal. Many of those owners are still trying to save their home from foreclosure, and some will get a loan to reinstate, or work out a forebearance with their bank, or sell their property to someone else at a reasonable discount, but not a discount of $100,000.
I have written several articles on foreclosures for your reading pleasure:
Sequim Real Estate Foreclosures
Sequim and Port Angeles Foreclosure Help
Foreclosure Properties For Sale in Sequim and Port Angeles
Foreclosures in Sequim and Port Angeles
Short Sales and Foreclosures
Foreclosure Opportunities for Investors
If you find a home that is in either pre-foreclosure or the Trustee Sale date is coming up, and you have all cash to bid on it (you have to have a cashier's check at the sale), you are welcome to use me as a resource. Having done many foreclosures as an attorney, I may know something that could be helpful to you. Anything I know or have learned is yours for the asking.
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