Finding Preforeclosures From Anywhere!
I am just about at the end of the rope here. I can't find preforeclosure lists for my life. I have tried looking in the courthouse and asking the county clerk in Loudoun County, VA and they can't help me. I contacted the law librarian and they don't seem to know what I am talking about either. I don't want to pay to find them and I can't seem to get anywhere. I really want to become a real estate investor. Someone please help me!
Have you checked the racks of dinky little newspapers at or near the courthouse? Chances are there's one that carries almost nothing but the area legal advertising ... which is where the notices will be found.
It's ususally not up to the Clerk of the Court to maintain a list to hand out!
You must learn the foreclosure laws of your state if you are serious about investing in this area of real estate.
There is a public record document that is filed when a lender decides to move forward and foreclose. In some states it is a Notice of Default, in others it is a Complaint, in others it is a Lis Pendens, and in some they will publish in your main local paper in the legal section ads that show someone is officially entered into the foreclosure process.
Call a real estate attorney that will give you a free consultation and tell them what you are up to,and what starts the legal process of foreclosure in your state, and is that info in the public record.
Good luck, DAve
p.s. when you look in the papers, you will find lists of auctioneers who are advertising the auction foreclosure sale (either at county courthouse steps or on the house premises, depending on state). Get their names, and find their sites on the web, or get lists from them. But the sooner you can determine that a foreclosure is happening, the sooner your chance of doing a deal that puts money in your pocket.
There are no newspapers in the courthouse. The second floor holds all the land records and they have nothing. There are deed files, but I have no clue how to approach them. I don't know where the files for foreclosure are in the courthouse or how they are filed. There are also computers that house records, but say nothing about what kind of legal record you are looking for. If you have any other suggestions, I would love to know. I'm desperate.
Hi BizMan,
I really can recommend working foreclosures from a list, it saves so much time. Now, the problem for you is finding where to buy the list.
This shouldn't be too difficult.
The best way to do this is to find out when the next foreclosure auction is at your local courthouse. The next time you are at the court find out where the civil cases are actually filed, and then ask a clerk there to let you know when the auctions take place. Or you can call and ask for the civil section and ask them. There are usually at the same time each day. In my neck of the woods foreclosure auctions are held on weekdays at 11.00 in the lobby.
Once you find out when the auctions are held, attend an auction and watch (very interesting). Do not ask any questions until the auction is over (people don't like to be interrupted when they are getting ready to bid).
After the auction ask around to see who subscribes to a list and get the phone number. Don't be surprised, there may be more than one person who sells foreclosure lists. Also, sometimes on the internet you can find companies that sell lists.
Let us know how you get on,
Best of luck to you
Ghostwriter
I would dig deeper at the county recorders office.
At my office, I talk to one lady, who gets a guy who can print the list. He is the only one that can print me the list.
All the list contains is the Document number and the name/date of the filing.
I have to check the computers and find the address, amount, actual filing date, etc.
It may take some work.
Go back to the county recorders office and tell them that you need a list of current defaults, or Notice of Defaults, or "Whatever documents show all the people currently facing foreclosure"
It has to get filed somewhere, you need to find that somewhere.
good luck
You also might go to see someone at one of your newspapers and ask them where the legal notices are posted.
Here is one for you:
Leesburg Today
1 East Market St. Leesburg VA 20176
P.O. Box 591 Leesburg, VA 20178
Telephone 703-771-8800
Fax 703-771-8833
Best of luck
John (LV)
I just had an idea. If I go to the courthouse and ask them if they have a list of the homes going to sheriff's sale in a couple months or weeks, will they have a better response? Is a couple weeks too late to help people out? Also, If I flip properties, when I assign the contract, do I have to pay anything or perform a closing or just let them take the house?
Try a local title company as well. I've heard if you promise to purchase title insurance from them for the deals you find from their NOD lists most will be happy to provide the NOD list to you. This is applicable to NV, not sure about your state.
In regards to your dilema on finding foreclosures, I have found out that when you are at the county clerk's office you can ask for a list of independant abstractors. They will look up properties per your criteria, then do a lean search on the proprties you want to investigate. Good luck on your investing.
Also you can check title companies and/or settlement attorneys depending on who does closings in your state.
good luck,
Beau