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Go to the courthouse (where homeowner sends tax payments to) and give them the address. I went in and just said I needed to find out who owned a house - and she gave me a print out of the owner, their address, the property taxes and everything.

Ok, so when I actually get into the workings of this I am losing my mind. I was looking for a contractor who does free estimates - to take with me to look at a property....

I didn't realize there were:
Additions & Remodels contractors
Carpenty contractors
Decks/porches contractors
Electircal contractors
Drywall contractors
Windows/doors contractors

and about 35 more!

I found where to get bids on your project - but I don't know what needs to be done - as well.

So just who should I take with me to look at the property? I would like to hire an inspector - but I don't have any $$

I just want to make sure it is a good deal, get in contract and assign the contract.

Help???

Thank you! I am going to go check out that website. I had been asking around for info about them but noone knew :)

thank you guys. Yes, I was afraid the appraisals were a little "stretched" -

the seller has many properties for sale all appraised by same people....some match up with my comp reports pretty close and others are appraised quite a bit more. This leads me to believe they are legitimate appraisal company or they would all be stretched to the highest for the same client - I would think anyways.

Thank you for the insight and replies!

1. Anyone know where to find info about this for each state?

2. If you are buying a preforeclosure in another state, which state applies to you? The one you live in, or the one the house is in?

Thanks!

wow, that is expensive - let us know how it works for you!

Thank you for your reply.

I have been trying to do some reading. Tell me if I got this somewhat right in my mindframe...
If the house has substantial equity (big margin between owed and value) then it would be best to try to offer them cash as in the above scenario.

If the house has little/no equity, then try to do sub2 or shortsale and pay the owner an agreed upon amount for the little equity so they get some cash.

Is that about right?

Does anyone have a good site to point me to for marketing, and talking to these owners? Or your personal experiences?

Say you pay cash for the house and the want to give the owner the possiblity of staying in their home. What is the best option there? I am looking to make money of course, but I am not looking to take advantage of them and if I can help and make money that would be great.

Thanks!

I know there is the subject2, and shortsales, etc...wouldn't it just be easier to offer to buy the house from the person who is about to face foreclosure - enabling them to pay off the balance and leave them cash still for moving/new house down payment or something?

balance due: 100K
house FMV: 300K
offer to pay them 200K for the house?

Also, there are people/companies who buy it and then lease it back for a year or something - what is the name of this process so I can study it?
Can someone straighten me out?

I am off to go reeeaaaddd.....

I am subscribing to a professional service that provides me with professional comp reports as well as foreclosures/preforeclosures/fsbo's and bankruptcys.

My question is what am I supposed to do (possibly) with bankrupties?? I have all the info (asset indicator, attorney info, case#, debtor, file type, type of bankruptcy, etc etc) Do they have to sell for some reason? They just normally want to? I don't know anything about bankruptcies can someone help me here?

Which do you think is better? I am looking at some properties and they already have appraisals on all of them. But I also have access to professional comps - and they never match.