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Updated about 5 years ago,
How do I Buy this home before it hits foreclosure?
I have been in contact with a motivated seller in regards to her property but I the options I am offering isn’t helping her. She owes 600k on a million dollar valued home but she really wants to sell. She wants to get the home off her books and pay off the two lenders. The home does need lots of repairs I’m thinking 150-200k. Thing is in order for me to purchase and profit I will need to be at 430k to make this deal work. She is already behind on her first payment being that she pays 6k a month. Question is how do I get a deal with the bank before the house hits the market? In other words, once the home goes into pre-forclosure how do I get first bid before I think hit send auction or the market?