Need help acquiring foreclosure

10 Replies

I have neighbors who are renting but have been told need to move due to foreclosure. What is the best way to verify the foreclosure and contact the owner before it goes to auction? I am new to bigger pockets and real estate so any information on how to obtain foreclosure lists and approach owners, etc would be much appreciated. Thanks!

@Brad Armel   Ask your neighbor renting the place, they should have their contact information.

@steve racicot thank you for the advice. I posted this from my husband's account because I didn't have one yet and was anxious for an answer. I spoke with our neighbor today and it turns out that they don't even have the right contact for the owner of the house because it's an LLC that she created to avoid foreclosure previously. Is that even possible? Any suggestions on how to move forward with that? I've been looking but can't seem to find the info I want but I may be overlooking something. ? Thanks again!

You might be able to look up business names from the jurisdiction where the LLC is registered which will likely give you a Registered Agent you can contact.

The llc name and owners can be found at sunbiz dot org in the state of Florida. An LLC can get foreclosed on just as easily as a primary residence. You wanting find the name on the llc and then check the county records to see the status of the foreclosure.

Look up the property on the Property Appraiser site. You will see sales history.
Search the individual name on the clerk of court Official Records site. You will see Mtg.s and the foreclosure LO filing, and the Final Judgment If recorded.
At the top of the LP will be a case number (xxyear-xx-xxxxx-xx)
You can find the case events for the case in the clerk’s Court Records search.
The actual case file, you may have to go the clerk office in person, will show the service address for all parties in the LP and Final Judgment.

The Assessor's site will also likely have the mailing address of the owner if you pull up the property you're hoping to purchase.  Good luck.

Thank you! @David Mitchell and @Wayne Brooks
The listed LLC was under another LLC! Is that something that happens often?
The house is set to go to auction Jan 5th. Would we wait until then or is there some way of making an offer before then? Thanks!!

Originally posted by @Deb Armel :

Thank you! @David Mitchell and @Wayne Brooks
The listed LLC was under another LLC! Is that something that happens often?
The house is set to go to auction Jan 5th. Would we wait until then or is there some way of making an offer before then? Thanks!!

You need to research whether and how this could be an opportunity. 

Sometimes the owner has a ton of equity but just can't afford to pay the mortgage. These are folks you want to try and work something out with prior to the auction.

More often there is no equity plus additional liens, judgments, lawsuits, unpaid taxes, etc. In these cases it makes zero sense to do anything until the auction. 

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here