![]() Property owners and lenders are both in awkward positions when a loan goes into default. If your offer is less than the amount of the debt on the property, ask the owner to present your offer to his lender. Have your financing lined up so that you know you will be in a position to close when settlement time arrives.Have an attorney or title company search the title to the property noting any other liens, restrictions, or encumbrances that may exist.Money spent on a real estate appraisal in such circumstances is money well spent. Have a qualified appraiser or real estate professional supply a valuation.(Please keep in mind that the owner may still be living in the property and their privacy should be respected). Drive around the area to make certain it is a community that is right for you. Schedule a visit to the property so you can see for yourself what condition it is in.If the property is already listed with a Realtor, contact that broker to get specifics as to the asking price of the property, its condition, and the willingness of the seller or lender to negotiate a short sale. Contact the current owner of the property to discuss the terms that might be acceptable. ![]() Steps as you search for your pre-foreclosure property:
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |