Pre-Foreclosures How to buy/finance

[William Levi Corcio]

Hello all,

My name is Will I’m new to BP and I’ve been doing research looking for deals. I found what would appear to be a good one in my area but it’s a Pre-Foreclosure..does anyone know how to work with these as investment properties if it is even possible? How does it work and experiences or tips..? Thank you..

[Ben Biggs]

Hey @William Levi Corcio, to my knowledge, a "Pre-Forclosure" can be bought just like any other home. A notice has been issued to the owner, but no action has been taken so there is no special financing considerations. It definitely may affect the final price and it's a different negotiation process due to the unique situation of the sellers. It could be a great way to grab up a deal, I've sold one before. You just have to be aware of timelines and how many days they have left before the bank takes action which will make it much more difficult. 

My two cents, hope that helps! I also recommend you find an experienced agent up in LA who can guide you through.