Can you wholesale a pre foreclosure?

[Account Closed]

Hello. I am starting out in wholesaling and was looking around today and found maybe 100 homes on zillow under the pre foreclosure status in a neighborhood. Went looked at them all, wrote them down and noted if it was abandoned, absentee, winterized, trashed or occupied. Had a idea to maybe later send a letter to all of the homeowners, and track down the absentee ones and send them a letter asking if they would like to sell their home to me and so on. And i got to thinking, can i put a contract down on a pre foreclosure for the amount they owe to the banks and such, then wholesale it? Do i have to go to the owner or the bank? Or is this even possible to get the home under contract?!? Thanks   

[Geoffrey F.]

Yeah why not. Its still their property until the foreclosure is finalized. Speak to a Realtor? No Bank? No.. I imagine if theres equity and profit in the home, you quickly put them under contract, you get your buyer quick enough, get the buyer to give you a down payment and use some of that to get the sellers loan current. Then proceed to closing. Being upfront with all parties is a win win situation. 

But I'm not a Guru or Lawyer so I'm only giving an opinion. Don't worry the hard work will pay off.

Good luck young fella