What Is The First Step?
Please bear with me - I'm really green...
I've found a preforclosed property near my house. Not sure what they owe - but it was purchased about 10 years ago for about $45K. Based on recent home sales in my neighborhood, FMV after some fixup is close to $175K.
Assuming the owner is willing to sell for something fair, what are the next steps? Should I get a title search done?
What papers do I need them to sign? Will I need money up front? Do I need to contact their lender?
I've found the property. I am about to talk to the owner. What next????
Thanks in advance
the next step is to talk to the owner and try to nego. a price that is profitable to you. then get the owner to sign a purchase agreement {contract to sell at the agreed price}........km