I know of a home in pre-foreclosure. So its not on the market yet i guess. Assuming the occupants don’t fix the situation and keep the house, it will be up for grabs. How do i get it though? When a house if for sale they have signs on the lawn, its easy to contact the Realtor. Some foreclosure go to auction, i have no idea then how i can bid on it or even when and where to go. Please help, i have no idea and this is the home i have been looking for and at the price, i can afford to repair the damages the owners may have done.
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I would contact the bank that holds the loan. If you cannot find out from the owners usually the bank will put up a foreclosure sign when it gets to this point. Also watch the newspapers because that is public information and will typically be reported in the news.
Good luck! 🙂
Buy it from the owners BEFORE it goes to foreclosure.
If the house is WORTH $200k and there is $170k owed on it – the owners might sell it to you for $175 or $180k. If you wait until the bank owns a house WORTH $200k – they will list it at $200k.
In most states, initial foreclosure sale is done by pubic notice in a newspaper and done on the courthouse steps.
I’d start there
If you know the owners enough to know that house is in preforeclosure, as what bank they have the mortgage with. You may be able to find out from the bank what the process will be.
tell you one thing… if you can pay for it in cash the better….. here in northern cali,, price have went back up to (to 2009 prices.) 2011 was the lowest…
Source(s): Northern California