Pre foreclosure home motivated to sell

[Harley Tigreros]

Hey Bigger Pockets Members, I am in Florida and today I meet someone who is motivated to sell their home. I looked up the address and all on Zillow and it is saying the home is in pre-foreclosure. If I am trying to wholesale this property what do I have to be weary of because it is in Pre-Foreclosure? I am a new wholesaler and I think that the bank has some say in this. What will I have to look out for if I decide to take on this lead ? I’ve read online and some articles say to short sale but I wanted to see if anyone has any other opinions or can help explain some things. Thanks guys! P.S.: this would be my first deal if I do take it on ! Kindest regards, Harley.

[Wayne Brooks]

You don’t get your info from Zillow.....you get it from your county records....see if an LP has been filed, even a Final Judgment, how many mtgs, etc. 

I hope you found out at least how much the owner “thinks” they owe, and you have some idea of the value. 

Suggestion, if you can’t buy it, please don’t tie them up with some long contract and then walk away when they no longer have time to sell to a real buyer.