REO/Pre-Foreclosure
Hello BP! I would appreciate your help here. I am looking at a few properties that I would like to make offers on. Both are SFR's in southern california. Here are my questions:
1. On the bank owned property does this mean the title is clean? Also are the banks pretty negotiable with their listed selling price if the house needs work on every aspect of the house? For example this home needs to be totally gutted-it needs new drywall, new kitchen and bathroom everything- water heater needs to be placed outside the home (it is currently inside the residence) etc. Maybe even new windows and a roof (I am going to drive by it in a few hours).
2. On the Pre-Foreclosure when and how do I do a title search to make sure title is clean or not?
Thanks BP!
Best,
Jorge