How do you go about getting first chance on buying a house that being repossessed by the bank?
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February 24th, 2010 at 11:37 am
Talk to the bank.
February 26th, 2010 at 6:44 am
contact the bank asap – you need to contact the property section.
February 28th, 2010 at 1:37 pm
go to the repossessing bank and ask the buying price if it is in your range offer to pay the mortgage out.
March 3rd, 2010 at 9:47 pm
Contact the owner, the bank, a real estate broker.
Money talks, bull sh-it walk.
March 4th, 2010 at 9:38 am
Hello:
If you already know the name of the bank, get in touch with them and let them know you are interested in purchasing the repossessed house.
You might want to check out the following websites.
Good luck.
March 7th, 2010 at 11:29 am
The best way to get a house that is being repossessed is contact the owner. You have a better chance of a purchase than going through the bank because the bank is not allowed to give information about their client. Two, they usually allow it to go to sheriff sale than the bank buys it back and list it with a brokerage company. It would be better for the homeowner to have a private sale so they don’t have a foreclosure on their credit report. Also, when you get into properties like this see how much the homeowner owes on their taxes, public water and sewer, and if their is any other liens on the property. All that cost will have to be satisfied for clear title. Get a Realtor to help. We have access to all the above info. And if you are from NJ or Delaware I would be more than happy to help.
March 9th, 2010 at 12:08 am
Hello,
I completely agree with wanting to invest your money. Afterall, what’s the point of making money if you can’t make more money with your money (got that?)? Anyway, I’ve tried all different investments from stocks and bonds to IRA’s, 401k’s, and real estate. I’m really a big fan of diversification.
However, the only investment I’ve really been happy with so far is real estate. Over the past 5 years, I’ve bought 3 different properties (all have tenants, and I’m making more than the mortgage payments on 2 properties).
The 3rd property I got was using Carleton Sheets no money down methodology (he’s a GURU in real estate, and yes, his methods do work!). You can actually buy a property for absolutely nothing down (NO MONEY FROM YOUR OWN POCKET). I payed over $500 for his course 3 years ago, and I just saw it online for $9.95!!!! This is a steal at $9.95 (I’m actually going to buy it for my friends for Christmas). It was featured on TV, so I got the website from there.
Before you invest in anything, I highly suggest the Carleton sheets course.