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A Wave of Zoning Law Changes Could Have Huge Impacts for Investors and Housing—Here’s What You Need to Know
The U.S. is facing a housing deficit of about 3.2 million units, and the situation is especially dire in urban areas like New York. It’s one of the reasons prospective homebuyers are finding […]
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Foreclosures
HomeForumsForeclosuresFound a pre-foreclosure....what next?
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Foreclosures

Found a pre-foreclosure....what next?

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Posted Aug 3 2008, 11:00

Hi,
I'm new to real estate investing. My husband is a general contractor, and I just began real estate sales courses. We've recently found someone interested in selling us their house (it's in pre-foreclosure) at 60% below market value in exchange for some of their equity in cash. What next? Do we need to consult a realtor? If not, how do we go about purchasing this house? Is a simple real estate contract sufficient?

Thanks in advance!
Angela

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