How To Be The First To Know About A Home In Pre-Foreclosure?

Question

Hello, I have found that Pre-Foreclosures hit just about as hard as vacant homes with wholesalers. Is there a way that you all use to be the first to know about the pre-foreclosures coming in your market? Once they hit Zillow or Propstream, I have went as far as going to their door only to find envelopes with handwritten letters, fliers, door hangers, etc.

Brad Jacobson · Answer

Hey Taylor,

The easiest and most effective way is to go to a local title company and ask them to set you up with your county's "NODs" or "Notice of Defaults."  These are the letters that get sent to homeowners who are at least three mortgage payments behind.

There hasn't been a lot over the past 2.5yrs because of all the Covid relief money but NODs are absolutely the best way to get ahead of foreclosures.

Good luck!

Eliott Elias · Answer

Bell county should have records of pre foreclosures, everyone sees those but not everyone calls those. If you really want to get into pre pre foreclosure status I would network with other realtors and see who have clients who are having trouble keeping up with payments and don't know how to help except list the property

Minna Reid · Answer

Most county websites will list NODs or lis pendens, or if you want to get to them even earlier, you can purchase lists of people who are behind on their payments.

Marty Boardman · Answer

Taylor, are you prospecting these leads for listings, or to buy the house for yourself as an investment (i.e. fix and flip or rental)? If you're going after them as an investment you don't want to be first. You want to be last.

Here's why...

Sellers in foreclosure have TONS of options...loan mods, iBuyers, refinance, hard money loans, bankruptcy. The most motivated sellers are the ones that wait until days or minutes before the auction to take action. This is where I focus my marketing. If I show up at a seller's door with a few days or hours until the sale I know they don't have any other choices. I'm their last resort.

Good luck!

Matt M. · Answer

In Colorado you can find them the day they are published at almost any County's website. Then those sites you mentioned scrape info from there.

Jason Marino · Answer

Hi Taylor,

The system might be different in the State that you are working in, but, as an attorney, I (and other attorneys) usually have access to the Court database and have the ability to see to these filings before they are shared publicly. You could consider partnering with a local attorney on this and have the ability to review the filings before they become public information.

Brad Jacobson · Answer

Hey Paul,

I think they are public info, so there should be other ways to get it.  Personally, I don't know the process for getting the info as one of my preferred title companies has always made it easy for me ha.  I recommend that route if available.

Good luck

Paul De Luca · Answer

@Brad Jacobson

Good to know! I've been calling pre foreclosure leads but I didn't know that. Aren't NODs or lis pendens notices public information though? Just curious why you'd have to go to a local title company.

How To Be The First To Know About A Home In Pre-Foreclosure?

How To Be The First To Know About A Home In Pre-Foreclosure?

Most Popular Reply

9 Replies