Offering on Pre-foreclosure

[Brandon Proctor]

I just got a voicemail from a gentleman that seems to want to sell his home. So naturally I checked the property before I call back.  I normally just look on zillow to check the location of the house and if any homes in that area have sold recently and for what price. 

While I was looking over the address I saw that the home is pre-foreclosed. What steps should I take when dealing with these type of sellers? The seller has equity in the home due to me filtering my list for those type of potential sellers. 

Thanks everyone. 

[Chris Martin]

You might want to check your state laws concerning dealing with owners in (pre) foreclosure. Some states have regulations in place to curb perceived abuse by aggressive REI ready to rescue the public;) In the general case, if you are ready, willing, and able to close as a buyer, there shouldn't be much of a difference than dealing with any other motivated seller... other than obviously there is a deadline for action, meaning the foreclosure sale date.