Preforeclosure Or Foreclosure?
is it better to contact a seller when they are in pre foreclosure, or when the foreclosure process has already begun? also in the instance of a pre foreclosure, what is the best approach, by phone by mail, in person, or all of the above?
<IMG SRC="images/forum/smilies/icon_rolleyes.gif"> [ Edited by Sierra14 on Date 02/05/2004 ]
It really depends on the situation with regards to foreclosure or preforeclosure..
For instance if the property is overleveraged I'd let it go into foreclosure and then get it after the 2nd and all the liens are wiped out.
For best way to get in touch with the seller, I'd say go knock on their door.
Ryan J. Schnabel
I have found from experience that most people who know they are in trouble and know they are going to loose their home tend to take a "well they will have to take it from me attitude" I do not fully understand their thinking but I learned along time ago not to try to understand peoples actions. My rule is (just my opinion) If there is equity in the home and I can help them out by splitting profit from equity I will approach to discuss options . If there is nothing there and the property is up side down try to get it at the FC auction.
thanks for the advice. i agree that a person to person might be a good idea.