All Forum Posts by: Dan Rosenberger

Each area could be different, so this is general information - can vary by area.

For pre-foreclosures:  There should be a county clerk or clerk of courts where foreclosure cases are filed.  That might take a visit to the courthouse or in some cases the information might be online.  (In non judicial states there might be a notice of default filed or recorded.)

Prior to the sale, there should be some kind of public notice in advance of a sale.  How that information is made available may vary by state and/county.  A conversation with the party conducting the sale (usually sheriff dept. or trustee) would be a good start.

After the sale, you can contact the foreclosing lender.  If it is a small local bank they might talk to you.  If it is a larger national or regional bank they will probably not talk to an individual investor.

Banks will sometimes list properties on the local MLS with a broker. But it is not uncommon for some properties to show up on sites like auction dot com within a few weeks of the foreclosure sale. If it is a HUD Home, it will probably appear on hudhomestore.

@Bobby Clemons Did you purchase the program?  What are your impressions?

I agree with you if it gets to OBC. If it is OBS and does not go to contract, I have heard of another previous bid being selected. But that would happen before it goes back active on HHS site. And that specific situation was several years ago under a different asset manager.  I always submit a new bid. There is no reason to not resubmit. 

Some kind of 3D or Matterport tour would probably be a good idea.  Make sure you use a professional photographer for your still photos.  They know the techniques to get the outside view to show through the windows on the interior shots.  And get it on the market soon.  Lake properties usually have more appeal in the summer, and schools do start classes in August in Indiana.

You can't go wrong if you submit another offer.  I think they would consider your older offer if it meets their criteria to accept.  But they are constantly tweaking their procedures.  So whether you need to submit another one or not, the safe way would be to submit.  That would also give you an opportunity to raise your number if you think it would help. 

There will still be fees that have to be paid to the auction's designated title company.  Some of the fees might be duplicate of fees that you have to pay to both your title company and their title company.  It might end up being be less expensive to go with their title company.   You can ask the rep what estimated costs would be both ways and make a decision.

These are all great comments. The Ricoh Theta is quick and does not require a storage plan. You simply email the files. 

If you are selling a home, look at what Matterport has to offer.  It is a good product. If you want spherical 360 photos of a prospective purchase or job progress, Ricoh Theta is something to consider.

There are other products. Samsung has a spherical camera, but I have not used it yet.

If you are an out of area investor it would be good if your boots on the ground person has a spherical camera or similar product.

Ricoh Theta cameras are pretty reasonable.  Not ultra high resolution, but good enough to get a good idea about the house.  I can use a phone app and set the camera on a noodle tripod.  You end up with a spherical 360 panorama of the entire room.

I will often take 360 degree panoramas of a new project.  Sometimes the agents will skip the photo of the wall that has holes.  With a 360 of each room you can see it all.  What you are suggesting is much more useful than a set of photos or a slide show.

Large banks generally will not talk to you.  Smaller banks might.  So give it a try.  But if they are selling direct, they are probably looking for a quick closing cash deal.   It doesn't hurt to find out.

If the buyer is an investor,  they might consider your offer.  A quick smaller profit might be more attractive to them than a larger profit that consumes time and ties up their resources for a while.