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Started By
Message
how to pick up a foreclosure
Posted on 8/2/12 at 9:04 am
Posted on 8/2/12 at 9:04 am
I know a house is going into foreclosure soon,
what methods can I use to get it at the cheapest price possible? I understand that once a bank puts it on the market, you have already missed the best window, or am I uninformed?
thanks for any advice in advance.
what methods can I use to get it at the cheapest price possible? I understand that once a bank puts it on the market, you have already missed the best window, or am I uninformed?
thanks for any advice in advance.
4
Posted on 8/2/12 at 9:18 am to homeskillet
quote:
how to pick up a foreclosure
Lift with your legs.
Posted on 8/2/12 at 10:48 am to homeskillet
Don't let it go on the market if you can avoid it-you would then have to compete with people who might offer lower but offer cash, in which case you might not get it. Also, the process can drag out for months for everybody to sign off agreeing on the terms if it goes that far.
Posted on 8/2/12 at 11:10 am to homeskillet
(no message)
This post was edited on 1/13/21 at 1:42 am
Posted on 8/2/12 at 11:19 am to homeskillet
The best way? Buy from the current homeowner. Say the house is worth 100k. He owes 50k. Offer him 55k. He walks away with 5k I'n his pocket and saves his credit. Win win.
This is obviously dumbed down but you get the drift.
This is obviously dumbed down but you get the drift.
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