preforclosure
seeing as preforclosure is not available through bank, because the property has not being forclosed on, what is the best way to find preforclosures. and how is the best way to approach and make a sale with somebody who is going through the worst time of their life, because job, marriage, changed economy caused this person to do the unforgivable, go broke. any details or concepts that have worked for you in the past will be appreciated.
When a homeowner has defaulted on their mortgage payment, the bank will file a "Notice of Default" or "Lis Pendens" at the county courthouse. This is the first step of the foreclosure process.
Since these notices are recorded at the courthouse, you can find pre-foreclosure candidates at your county courthouse. Go down there and ask where the foreclosure department. Then ask where you can find the NODs (Notice of Defaults) or Lis Pendens. There should be files or a list that you can go through and write down the property address or homeowner's name. Then you can do an online phone search for their number and call them or send them a letter. Remember followup is the key. Most homeowners may not respond to the first few letters because they may get bombarded by other investors. Be creative, come up with unique ideas to make your letter stand out.
Tell the homeowner you can help. You are not a realtor, but a real estate investor. You have some solutions you want to discuss with them. Setup an appointment to meet with them to evaluate their situtation so that you can assist them better. Hope this helps.
Tanya