Leads past the auction date?

[Paul T.]

I use PropStream and can filter by Notice of Default, Notice of Trustee's Sale, etc. I can also search bankruptcy leads. I'm not sure I understand the timelines. I see some leads where the auction date has already passed (sometimes even by a long time), but when I cross check the property on zillow or the county records, it is still under the owner's name, and zillow still shows 'preforeclosure'. Should I still pursue these leads, or are these for sure owned by the bank at this point, and the info is just outdated?

[Ron S.]

I wouldn't waste my time dealing with bankruptcy leads. You'll have to get a hearing in front of the judge, get approval from a judge, and then have to deal with the requirement to have the property listed on the MLS system to sell/buy the property.

I also wouldn't waste my time dealing with Notice of Trustee Sales leads because if it got that far, the sale date is imminent, and only (All things being equal) a very fast close cash deal would work.

Notice of Default gives you the biggest window of time to put something together. I don't know what your strategy is but assuming you are trying to purchase these homes from the owners before sale, that's the arena that gives you the highest chance of putting a deal together, absent just attending the sale with cash and buying then.