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. When default in payment of mortgage or cause three consecutive times this is when this process occurs. When this happens, the lender begins a process of reprocessing the property following the stages put in place by the law. The first step in the process of pre-foreclosure is the putting up over default notice by the lender which is to inform the owner of the property that the lender will begin following legal action if the mortgage is not paid. 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. In the property section, the newspaper usually has set aside this section for such notices. One great source of pre-foreclosure listings for investors looking for such opportunities is the local newspaper. For you to check them out, you will be provided with all the addresses of the homes.
Online directories are also a good source of pre-foreclosure listings. Information on any properties that are in the pre-foreclosure stages have been provided through a number of sites dedicated for this. They give all the relevant information that you need that may include the type of house, their conditions and addresses. All you have to do is click on the link provided for each property and you find all the information you need. Finding a variety that you will choose from is the advantage that comes with the online directories.
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. The agent will save you a great deal of trouble of looking for pre-foreclosure listings as they are professional and qualified and you can count on them.