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Updated almost 11 years ago,
Buying Trustee / Pre-Foreclosure Properties
I am trying to learn how I might be able to pick up a property in Snohomish County Washington that is a trustee sale and/or pre-foreclosure - or whatever it might be before it's listed and open to all. I am a commercial guy and don't do anything single-family. When I worked for an equity fund which was buying portfolio's of notes we subscribed to trustee lists through a commercial source and would attempt to buy the note and then foreclose ourselves. I don't think I am comfortable doing this on my own, but I would like to purchase a single-family property within this criteria if there is a way to learn how to go about this.
I am not looking for an extremely popular property type which I feel gives me some advantage. I really want something in Snohomish County with 5+ acres, preferably 10-40 acres. I'd really like to stay under $500,000 but will pay all cash.
Knowing my criteria, is there any guidance one could give me for going about this in my area?