How does buying a pre-forclosed property work?
I've found a quadplex in pre-forclosure. There is just over $80,000 left on the loan and the current owner is behind just under $10,000. I am completely new to this, haven't done any types of deals. What are my options? One unit is 3bd 2bth and the others are 2bd 2bth. Let me add it is located in California. I've looked at similar properties in the area and there all over $400k.