I got a pre-forclosure list from list source to door knock. I notice a lot of the records on the list are Notice Of Trustee's Sale. From what I look up, I got this "Trustee sale means that someone has been appointed to handle the sale of the home on someone else's behalf". So is it worth it to contact these owners? Can they sell the home? Or do I have to contact the person appointed to handle the sale of the home on someone else's behalf (the trustee)?
A notice of trustee sale is a bank foreclosure. When a homeowner gets a mortgage the trustee on the deed of trust is usually a bank officer. If the person living in the house is the owner and the property has not been foreclosed on then yes you could get them to sell you the house. You would just have to pay off the note and any late fees to the original lender for them to release the lien. If the people living there are just renters then no, they have no authority to sell you the house. The trustee won't sell you the house because they don't own it until the foreclosure is complete.
Honestly though, why would you buy a list like this without knowing what you were getting or what you were going to do with it?
Thank you for your help. I got it with door knocking in mind
@Sal Castaneda planning on wholesaling
@Sal Castaneda thank you for helping
if you got "Notice of Trustee Sale"...you better be buying with cash and closing within ten days or less...the full debt on the notice or it ain't gonna happen.