Pre-foreclosures in Pierce County, WA

[Tim West]

I am  starting to evaluate deals in the Pierce County, WA area, and I see that there are some opportunities for houses in pre-foreclosure. When I call on some of the properties, I find that many are in trustee or power of attorney situations where someone is trying to get the property sold before it goes to auction. Are there any pitfalls I should be aware of in the State of Washington with these pre-foreclosure properties that are NOT owner occupied? Also, if a deal is secured where the bank gets their amount outstanding due, is there a lot of red tape that would create a slow closing or put the deal at risk? Just looking for some local knowledge from folks on here with experience in the Tacoma, Lakewood, Puyallup, Sumner, Bonney Lake areas. Thanks!