pre foreclosures

2 Replies

is it any different or more difficult to wholesale a fresh pre foreclosure, one that doesnt yet have an auction date. if so can someone please explain why? any help is greatly appreciated !

Pre-forclosures should be easier, if anything, because you're still dealing with homeowner and not the bank.  Since the owner is in a bind, you're reaching out to help keep the house from being taken back by the bank.  This gives you the opportunity to get the house in someone else's hands before the bank takes over, keep a forclosure or short sale off the sellers credit history, and pay the bank what is owed. If you can make $ doing it, it's win-win-win-win.

Originally posted by @Robert Lorenz :

Pre-forclosures should be easier, if anything, because you're still dealing with homeowner and not the bank.  Since the owner is in a bind, you're reaching out to help keep the house from being taken back by the bank.  This gives you the opportunity to get the house in someone else's hands before the bank takes over, keep a forclosure or short sale off the sellers credit history, and pay the bank what is owed. If you can make $ doing it, it's win-win-win-win.

Awesome ! That's what's I thought I just wanted to be sure . Thanks a lot for the perfectly worded response it helped a lot !! 

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