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Updated over 9 years ago, 06/09/2015
How to buy Pre Foreclosure homes with white letters on windows/doors
How would one go about purchasing a home that is in pre foreclosure? We've all seen the homes that seem to be vacant with the white papers stuck to the windows or doors. Sometimes I see homes that have these notices stuck to them for years and still haven't gone to auction. I know it's a given that due diligence needs to be done to see what type of foreclose it is involved in (tax, mortgage, etc) among other things. Is it possible at this point to contact the seller to make a deal with them? Would this be considered a short sale or would this be pre-short sale? I always assumed that it would be considered a short sale once the bank/listing agent lists it as such. My understanding is short sales can take a very long time so I would rather catch the homeowner prior to reaching that point.
Thanks