NEW TO FORECLOSURE....HELP!!!
I'm just starting to learn about foreclosures and I need some help.
1. How do you find foreclosures or what's the best way to find them? Someone suggested that I should look at daily county court listings, is this the best way to go?
2. After I get the listing what's my next step? Do I go straight to the property owner and trying to negotiate the deal?
Any help would be greatly appreciated.
I'm in LA county, California (is this a good place to do foreclosures?)
Thanks guys!!!
As far as how to find the properties you can check the local papers for the legal ads. These will tell you what day the auction will take place and give you the attorney name. Most of these attorney's have a website where they post all up coming sales. I get the list from them, then go look at the property if I like I come back, call the attorney to confirm the sale is still going through, if it is I go to the Courthouse to pull all records on the property to see if there are other liens or probems with the property if you like what you see wait till the day of the sale call one last time to make sure the sale is on if it is go to the courthouse and place your bid. You will discover that many times the attorneys will be te same ones who do most of all the sales if you get to know them (or better one of their staff they will call you when they have a sale that might interest you).
One other note here in Ga the legal ads come out on Fridays and the sales are Always 1st Tuesday in the month so you can be present for several different sales all at same time and date if you like.
Hope this is helpful
Scott
Q: How do you find foreclosures or what's the best way to find them?
A: There are several ways to find foreclosure. Some companies provide this information you are looking for at a cost. If you don't want to pay for that list you can go to the courthouse and compile your own list. Other ways of finding this could include networking with a title company.
Q: Someone suggested that I should look at daily county court listings, is this the best way to go?
A: I guess that depends on how valuable your time is and how much the service costs.
Q: After I get the listing what's my next step? Do I go straight to the property owner and trying to negotiate the deal?
A: That's a good place to start. I'm no lawyer, but be careful with your contracts. I'm pretty sure there are several specific standards for contracts in CA, so check with your local real estate attorney for this. Good luck!
Ryan J. Schnabel