Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Ruth asks…

Could anyone please tell me where I can get list of Foreclosure Homes?

I would realy appreciate if anyone can tell me where and how I can get list of foreclosed homes.

Your Questions About Foreclosures

The Expert answers:

If you are looking for national foreclosures listings website, check out this site

http://foreclosure-listings-national.com/

Here you can get access to all foreclosures in usa.

Your Questions About Foreclosures

James asks…

Foreclosure homes! How does it work?

I have been looking into buying a foreclosure home but I am a little confused on how it works. Say the home is valued at $200,000 and the owned amount on the home is $50,000. Would I have to pay the $200,000 or the $50,000? I know that I would have to get approved for a loan, get a real estate agent, as well as pay the down payment but I wasn’t sure what is the “price” that I would be paying. Thank you all!!

Your Questions About Foreclosures

The Expert answers:

My suggestion to you is to go to your nearest bookstore and purchase a book or two on buying foreclosed homes or distressed properties. There are many there for you to select from

In an attempt to answer your question I take it you are talking about property that has completed the foreclosure process.

If that is the case you will not know what is owed against the property, all you will know is what the asking price of the property is, so you will not have to make a decision as to pay the balanced owed on the mortgage or the asking price.The figure you will be concerned with is the asking price of the property.

These properties have been taken back by the lender and farmed out to real estate brokers for them to sell.

To purchase such a property you will need to get pre approved by a lender after which you may contact any real estate agent in your city that has access to the MLS. This service list all the foreclosures in your area. Some of the agents advertise in the local papers that they have forecosure direct from the bank. You may contact one of them but all the real estate agents have access to them through the MLS.

If you are speaking of trying to buy a pre foreclosure then you will be speaking to the current home owner. This takes a bit of skill you will need to read the books mentioned above to make such a transaction to work.

You will have to come up with a contract, open escrow, find a title company and perhaps get a loan or take over the existing loan the current owner has.

Once you have made contact with an escrow or a title company they will be able to assist you with other items needed to complete the sale or transfer. This is not for a novice. You must have a working knowledge of how foreclosures work in your state, so make sure you read the books you purchase at you book store.

I hope this has been of some use to you,good luck.

“FIGHT ON”

Your Questions About Foreclosures

Richard asks…

How do you start a business repairing and cleaning foreclosure homes?

Your Questions About Foreclosures

The Expert answers:

Find out what the requirements are to start a business in your area. Most likely, you will need a business license and you need to check and see what the local tax requirements are. A business plan would also help. I suggest you consult with a free adviser at SCORE, the Small Business Administration service.

You will have to bid for services against other contractors doing the same thing, so have a good idea of what it will cost to clean out a house. The houses are usually sold “as-is,” so repairs aren’t done unless required by law.

Your Questions About Foreclosures

Sandy asks…

Where can I get a list of foreclosure homes without paying for it?

Seems every site I visit you have to register & pay a fee to get all the information on the houses.

Your Questions About Foreclosures

The Expert answers:

One in 5 homes were serviced by countrywide/Bank of America, meaning you can get a free list of foreclosures by the bank. You can access it here:

http://www.investingwithoutlosing.com/2007/08/foreclosure-homes-how-to-find-bargains.html

Please make sure you do your proper due diligence before investing though. You can find more information about foreclosures and the steps it takes to handle / sell / invest in them through the recommended reference below.

Your Questions About Foreclosures

Sharon asks…

Where can I search foreclosure homes by address and/or home owner name?

Is there a service/website where I can search these details for free?

Your Questions About Foreclosures

The Expert answers:

Most foreclosure property is listed by local realtors.

I’d start there.

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Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures

Your Questions About Foreclosures

Your Questions About Foreclosures