Advice On Foreclosers
I looked on the forecloser webste and saw that there were a number of properties that were cancelled. Would it make sense to try to call these people and see how their financial situation is still doing? Maybe they saved the forecloser but they are still stuggling.
Does this make any sense and if so what is the best way to approach them?
Thanks
Generally, an REO only means that the property is owed by the beneficiary that foreclosed on the property. It implies nothing as to wether or not any tax debt or other liens exist on the property. A title report can tell you that, but generally the beneficiary knows of the existance of the debt and is ready to pay what is owes via a sale.
An REO is no different in terms of buying anyu property i.e. you have the right to make an offer subject to inspections, title review, financing or any other item that you would want to negotiate in a normal sale.
Good luck
In my experience, lenders sell them as is where is. You can ask for the inspections, but I will gurentee they will take an offer with no inspections over one with. the only exception I have seen is termite