Pre-Foreclosures that aren't Value-Add

[Nick Zocher]

Hi all,

I currently work in acquisitions on the MLS side for a Rehabbing company.

Being the MLS, it was quite simple. I only sent offers to extremely distressed properties based on provided pictures.

My question has to do with direct mailing to Pre-Foreclosures. We cannot assume that ALL Pre-Foreclosures are going to be distressed homes, can we? The only certainty is that the home is in the process of being foreclosed, not that it is a distressed property that has value-add opportunity.

How would a wholesaler do a deal with a Pre-Foreclosure that is in great shape? Would it become more of a standard residential sale at that point? 

Any help on this is GREATLY appreciated. I can't seem to grasp the concept for this scenario.

Thank you!

Nick