NOTICE OF DEFAULT LISTINGS

I am getting started in real estate investing and have read the previous posts on the web site, however, I am still looking for a clear cut answer on how to go about finding the NOD listings in my area in Florida. The websites that people had referred to in earlier posts-to me-seem to have only forclosure listings. I would like to know how to find preforclosure notices....Any help would be great! mad

Comments(12)

  • littleriley13th November, 2003

    I am in the same boat. Are the NOD lists public record as well as the Foreclosure Info? Thanks. JM

  • kmaples13th November, 2003

    You must contact your county recorders office. Find out if they have a website or if there is a public viewing area in which you can search for NOD’s.

  • scsod13th November, 2003

    Thank you for the info....So do most counties have websites? Or does everyone just hang out in the courthouse (every 2 weeks?) or so making copies?Sorry to bug you...just curious

  • BAMZ13th November, 2003

    Hi scsod,

    Your court house may list these files as NOD's, Notice of Foreclosures, or Lis Pendis. If you ask for them by one name and they look at you funny, work down the list of possible options!

    You will want to view the actual folders to make sure that this is a property worth marketing to and to get any details that may be essential!

    Although the Recorders office, may have the notice on thier computer and pehaps the address of the proeprty, the folders will be most likely found in the Circuit Clerks Office at the court house!

    Best of Success!

    BAMZ

  • davidbarnes13th November, 2003

    don't expect the people working there to be overly friendly or accomodating

  • scsod13th November, 2003

    thank you again everyone for your help, how often do you guys go to the courthouse? do you typically find hundreds/thousands?and you just photocopy them?

  • kmaples13th November, 2003

    SCSOD;

    I not sure what counties have a website but I know that a lot of them are in the process of going to the web.

    I would go to the recorders office as often as possible, they are updated daily.

    Just ask the clerk where they allow the public to view files at. A lot of times they have an area set up already.

    It takes some trips to get used to how your particular setup works, but it is well worth the time invested.

  • BAMZ13th November, 2003

    Hi scsod,

    In my county there are only 400+ NOD's filed per year. In Pinellas County Florida, there are almost 4000+ filed per year. So your number will greatly depend on the population in your county.

    I go to the court house about once every 10 days and add the new NOD's to my marketing campaign.

    Best of Success!

    BAMZ

  • scsod13th November, 2003

    I might have already worn out my welcome but Is there something that makes one listing more attractive than another? LIS pendis?

  • BAMZ13th November, 2003

    Good question!

    The reason you would want to review the specifics on a property is to know what you would be getting in to.

    For instance, last week I found a NOD with a 1st for $70,000, and a 2nd for $30,000. The FMV on the property is only $70,000 or therein. ( I still have no idea how he was able to get this enormous 2nd).

    This tells me that the first mortgage is already upside down, and in order make this happen I will need to SS the 1st and virtually eliminate the 2nd. After looking into this deal, I am convinced that I could eliminate the 2nd for pennies on the dollar. However after talking with the homeowner, I am highly convinced that the 1st will not SS the house (even though it makes financial sense), because the homeowner make WAY to much money to be approved for a SS. Therefor, there is no deal and I go on to the next.

    The specifics that you acquire from the NOD folders, will help you determine if that particular property is a candidate for a preforeclosure sale, a short sale, etc.

    BAMZ

  • scsod13th November, 2003

    thanks for all of your great info...I found the lists for my county on internet but no NOD are listed; only LIS PEN. and there are L PEN DIS, L PEN and different codes to find them --(confusing)!! I don't see any values ($) at all ---just date and legal description,.....?

  • mjdreal13th November, 2003

    I always call a title company and ask if they will fax me a N.O.D list most of them will...... MD

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