How to find attractive deals at a Foreclosure Auction ?

How to find attractive deals at a Foreclosure Auction ?

In Florida, when a successful bidder buys a HOA lien at a foreclosure auction, they get title subject to the existing mortgages and other junior encumbrances. It can be attractive for an investor when the sum total of the outstanding liens are less than market value of the property.

1. Collect all scheduled foreclosures for any selected county

2. Filter list of foreclosures gathered by HOA liens

3. Identify properties where (Mortgage outstanding + HOA dues + any other existing liens + Estimated cost of repairs) + required profit per deal is LESS than Zillow Estimate or Assessed Value or Estimated After Repair Value (ARV).

Value of Mortgage outstanding, HOA dues, any other existing liens can be found from public records.

4. Bid for the properties identified above. One can arrive at maximum bid value allowed per property based on costs and profit required per deal.

www.realsupermaket.com provides deal analysis and customised leads as above. Contact us at [email protected] or more information.