Why Choose Pre-Foreclosure Properties

By dhinternational  /  June 14, 2011 / Comments Off on Why Choose Pre-Foreclosure Properties
Pre-Foreclosure Properties

Pre-Foreclosure Properties

Properties that are in the last stage before they are taken by the bank are called pre-foreclosures. With this, the property owner is still in charge but if he is not doing anything, the bank will claim the property.

So why choose pre-foreclosure properties?

1.)    The price. Since the owner has to have the property sold before the bank repossesses it, it is not impossible to find pre-closure offers that are way less than their original market values such as 50% offs.

2.)    Dealing directly with the owner. Aside from getting a great price, with pre-foreclosures, you can deal with the owner directly. You see, if the property owner turns your offer down and then fails to have the property sold, he will lose everything. If he gets the property sold, he can make up some money from it.

3.)    Less competition. Yes it’s true, there will be less competition when you buy and search for pre-foreclosure properties. This will certainly prove to be helpful when making a great deal with the property owner.

4.)    Searching procedure is not that hard. When you search for pre-foreclosure properties, it is exactly the same way as you do with properties that have already been owned by the bank. You can look for pre-closures online, in the newspaper ads, or by contacting a lender on the phone.

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