How to Buy Houses Before Foreclosure
As a real estate investor, you are always looking for the best deals. Some of the best property values can be found in the pre-foreclosure market. The same goes for homeowners facing property tax default or some other threat of seizure. So, how do you track down these great real estate deals and how do you go about purchasing these distressed properties?
How to Find Pre-Foreclosure Properties
This will take some legwork and persistence. Remember you are not the only real estate investor out there looking to snatch up these distressed properties being sold by highly motivated sellers. You will have to do some research, build a solid network and develop a marketing outreach program.
You may start by contacting local banks and mortgage lenders. Any properties that have already been seized and/or have been put up for auction should be listed publicly. Still, you may be able to find some off-market deals. You can also ask about homes currently in pre-foreclosure or short sale situations. Lenders are generally looking to avoid foreclosure situations. They are messy and they typically end up losing money. Building connections with banks and mortgage lenders can lead you to some good buying opportunities. You can also check county sheriff departments and city resources when it comes to tax defaults and upcoming seized property auctions.
Find Motivated Sellers Through Marketing
Another solution is to find motivated home sellers directly. This will take some proactive marketing. You can put “we buy houses” signs up around neighborhoods with a lot of properties up for sale. You can create billboards, postcards and letter campaigns. A good website and email outreach program will also be beneficial. The goal is to get yourself out there as a home buyer and let motivated sellers come to you looking for a cash offer.
Join Our Real Estate Investment Network
Lastly, you can join the PropertyLark home buying network. We offer a wide variety of real estate investor resources to help you find the best property deals and make the most of your investment opportunities. It is free to be an exclusive member of the PropertyLark network. However, you will have to qualify. We are looking for serious property buyers with solid business plans and good financial backing.
Once you are part of the PropertyLark network, you will have access to excellent off-market real estate deals. We have a very proactive marketing campaign and are contacted by motivated sellers daily in markets throughout the country. We have financially distressed homeowners and others who just want to sell quickly for cash. We buy houses that you can buy from us, or we can connect you directly with the seller to work out your own deal.
You will also have access to proprietary property analytics software that will help you determine which investments are worthwhile. Being part of the PropertyLark home buying network has many other privileges, as well. To learn more, visit our Buyers homepage and follow our weekly blog. To apply, simply fill out the form on the right.