Rental Property Investor · Member since 2019 · 27 posts · 3 votes
Want to buy house in my neighborhood that just went into foreclosure. House doesn’t need much work. Family got divorced and both left house. I was originally just gonna buy and hold some mulitis but i am in a nice neighborhood that i know this house. My question is how can I get to the bank before it gets out there for others to buy ?
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
7y
“In foreclosure” means the foreclosure process hasn’t been finished yet..no foreclosure auction yet....this means the borrower still owns it, not the bank. Find the owner, make a deal if he has any equity.
Residential Real Estate Investor · Kansas City, MO · Member since 2014 · 10k+ posts · 5k+ votes
7y
Has the property been auctioned and repossessed by the bank (no one bought it at auction)? Or is the property simply being foreclosed on (i.e. the owner hasn't paid and the bank has filed the documentation to foreclose). How you should proceed depends on which one it is.
Rental Property Investor · Member since 2019 · 27 posts · 3 votes
7y
The house is across the street from me.the owner left around June. It’s it court for foreclosure hearings. I wanted to see if I could buy it before auction. I know what it’s worth and I know my area. Also just had did refi on mine and I know the value in this neighborhood. It has not gone to auction yet.