I'm a newbie... Question: Listed as "NED RECORDED"???

[Dylan Douglas]

I am a newbie but no dummy. Just want to to get it right.

When I locate a property of interest just listed as "NED RECORDED:" on a local government foreclosure list, what is my first best move?   

[Bill S.]

@Dylan Douglas you should familiarize yourself with Colorado's foreclosure protection laws. There are specific documents required when a property is in foreclosure. The law goes so far as to require the size of font for some statements. As @Bill Gulley points out, this is not something to wade in and figure it out. Get some education before you start playing in the foreclosure world. 

You can find the foreclosure documents on the state Real Estate Commission web site if you want to see what you need to use. Here is the sales contract that Colorado RE agents must use. Here is the link to the disclosures that are required for foreclosure properties.

Again, until you have some education, this is just for information.

Also, if you see an NED for a property that has a small amount owed vs what you think the actual value of the property is, that may just be the second loan that is in foreclosure. Same documents required different situation. 

Keep us posted on what you learn.