Buying a Pre-foreclosed Home

[Julie Cooper]

I am interested in buying a pre-foreclosed home, but I can't seem to get a direct answer about the process of it. I am located in Las Vegas, NV.  It will be my first rental property purchase. Is it possible to still finance a pre-foreclosed home, or does it have to be a cash purchase? If I can finance it, what is the process? Is it the same as getting a regular conventional loan? TIA

[Stephen DeThample]

@Julie Cooper

Pre-foreclosure means it is still owned by the current owner. You can’t buy it on the market until the bank forecloses on it. You could try to talk to the owner yourself If you really want it.