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The Path To Finding Better Sales

The Different Sources of Pre-foreclosure Listings

A pre-foreclosure refers to a home where the owner of the home has defaulted on paying their mortgage. Normally, this occurs when default in payment of mortgage has occurred three times consecutively. The lender begins the process of reprocessing the property when this happens by following the stages put in place by the law. The lender putting up a default notice meant to inform the owner of the property that the lender will begin following legal action if the mortgage is not paid is the first step in the process of pre-foreclosure. Because they will be able to purchase the property at a very cheap price and resell them at higher prices, many investors are usually on the lookout to find pre-foreclosure listings. There are a number of sources of pre-foreclosure listings.

Local newspapers at the first source of publications of properties that are on foreclosure process. Once the process of pre-foreclosure starts, the lender puts up notices of pre-foreclosure and has them published in the newspaper. The court overseas this legal process that has been set by the law. There is a section set aside for such notices in the newspaper in the property section. One great source of pre-foreclosure listings for investors looking for such opportunities is the local newspaper. You will be provided with all the addresses of the homes for you to look out for.

The second source of pre-foreclosure listings is online directories. Information on any properties that are in the pre-foreclosure stages have been provided through a number of sites dedicated for this. All the relevant information that you need is provided that may include the type, the conditions addresses of the house. You will find all the information that you need on each property listed by simply clicking on the link provided. The advantage of this is that you will find a variety that you will choose from.

Another great source of pre-foreclosure listings is the real estate agents. Looking for properties that are on pre-foreclosure process is what really is that agents do and there are also on the lookout for investors who are readily available and willing to purchase the property. Negotiating the offers available on your behalf and taking you through the process involved that includes the legal work required is something they are also willing to do and they will even organize meetings between you and the property owner. These are people who are professional and qualified in this field and you can count on them and will save you a great deal of trouble looking for these pre-foreclosure listings.

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