I was looking through some listings on Propstream and found a house that has reached the "Notice of Trustee's Sale" stage of pre-foreclosure but it shows it was purchased in cash so there is no mortgage on the property. Any ideas on how to lock up this property before the auction? Or any ideas on how a cash purchase ends up in foreclosure?
@Mike Mosby the property could be in an HOA and defaulted on the dues, or they could have refinanced it after purchase. If there for sure is no mortgage on the property, then my guess is another lien holder is foreclosing
It could be 100 things. Question is, how much time are you willing to potentially waste following up on it?
Great question @Eric James , I just reached out directly. We'll find out without wasting time!