The foreclosure process allows a lender to recover the amount of mortgage that is owed, usually by taking ownership of the property and selling it at auction.
There are three ways that a real estate investor can benefit from one of the scenarios above: Buy Pre-Foreclosure Properties.
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This type of purchase involves approaching the homeowner and finding out if there is any equity in the home. A homeowner might agree with this form of sale to avoid having a foreclosure on their credit score and sometimes they might even walk away with money. This process takes a lot of research and must have the homeowner’s approval. |
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At the end of the pre-foreclosure process, properties are offered at a public auction with the intention of recuperating any moneys owed to the lender as well as all expenses incurred in the process of foreclosure. |
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If there is no other bidder at the public auction, the lender will become the owner. Usually the lender will clear the title of the property and perform any maintenance needed. Bank Owned properties are becoming more widespread and dealing with the banks can be time consuming and challenging. I can expedite the process as much as possible and save you valuable time in this fast moving market. |
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If you are new to real estate investing you must remember that real estate is not a quick money making scheme. It takes patience and research. Learn more about the foreclosure process here.
Visit http://www.foreclosurenaples.com for access to free REO and short sales listings in Naples, Bonita Springs, Fort Myers, Estero and Marco Island.
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