Pre foreclosure step by step.

[Danny Sharp]

Can anyone help me understand the process on buying ore foreclosures?

I understand what they are, but let’s say I talk to the seller and set up an appointment with them. We talk about the home and agree on a cash offer. What steps do I take next? Do I need to bring any specific documents?

Any info is greatly appreciated!

[Bob Reinhard]

Not an easy answer in short space.
You are in essence trying to buy the property from the defaulting borrower and satisfy the bank.
You must stroke a deal with the borrower, whatever thst is to get the property from them, while they still own it. Thereafter, or as a consequence thereof, the lender must also somehow be satisfied.
What ever deal you strike must be memorialized in a writing with the owner...you are buying from them.