Driving for dollars - Looking for off market deals
BP,
Question - I was driving around a neighborhood today and made note of a few properties that looked distressed. Also, I made note of prpoerties that had a "notice" sign on it. I looked it up on the MLS (I'm a licensed realtor) and also saw that it is in the process of being forclosued on.
Anyone have secuess following up and calling the back. I'm sure it is not easy but does anyone have any recommendation on finding the lender and making an offer on the property before it goes to forclosure?
Thank you!
Most Popular Reply
@Tom Doherty If you find a way, let me know! You'd be a miracle worker to us all.
In all seriousness though, unless it's a teeny tiny bank and you're chums with someone on the inside, it's just about impossible to do. Your best bet is to 1. Try to reach out to the owners and buy it from them ASAP before the bank forecloses, or 2. Watch it like a hawk, and try to pounce on it if/when it comes up in a trustee sale (not the same as a foreclosure sale.)
All just depends on how proactive you want to be!