Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

The City of Gary, Indiana is running a home fire sale with a dozen homes priced at $1 each. Of course, the mayor is quick to let buyers know that these homes need a lot of work. The city bought the homes at county tax sales, and this fire sale is an effort to get homeowners into these homes with their sweat equity work a factor in stabilizing the neighborhoods.

Two articles this week are feeding the fear of those who believe we’re turning around from the crash market into another boom that can’t be sustained. In one article a recent survey was cited as finding potential home buyers in the current market willing to use “unconventional purchasing methods” to buy a home. The term used was “aggressive” buying tactics. The word “mania” is also used in conjunction with statements like these:

• From the LA Times, According to the survey, 25% of respondents would bid 1% to 5% over the home’s asking price, and the same percentage would offer to cover the seller’s closing costs.

So I just signed up for Deans pre foreclosure listings . It has so much information its great , but I had a question regarding amounts owed on a home . Are there any strategies that I can use to find out how much is owed on a home by the current homeowner ? Any help would be great . Thanks Guys !

Is there any way to purchase this home. Its in a great area and I'd appreciate it if someone could give me some insight. If more details are needed let me know. Thanks!

Rural area, a house has been foreclosed upon by BOA. However, was "liquidated" to a large company, since it had been an REO for over 5 years. Court records still show BOA as owners. BOA,REO Dept, claims they don't own it, but the liquidation company does not have records, supposedly, either! Contacted mortgagee and were foreclosed upon by BOA,6 yrs ago. House is becoming a blight within the community. Fits requirements for 22 of my buyers on my list for that area. Help please!

What is a title company and what is it used for when wholesaling while using a real estate agent?
Should I have a title company pick out before I start making offers?

Hello Everyone,
Hope everyone is well. I have my eyes on a Fannie Mae REO in Southern California. I'm looking to purchase this property for myself. It's a small house on a five acre lot with a swimming pool for only 145K. This property was last sold in 2006 for $400,000! How sad!

Just wondering what would be the most beneficial and smart way to purchase this property, other than a traditional FHA or Conventional Mortgage? Just curious if there are other options. Any feedback will be greatly appreciate it. Thanks and have a great day!

Blessings,

Just wondering if anyone has tried using The Business Finance Store using a credit partner!

Thanks

Maurice

This is my 2nd HUD house and 3rd deal overall. First 2 I wholesaled. This is will be a Buy, fix, and flip. I have all my documents ready for the Independent contractor Agreement so I can start the pre-screening phase for contractors and be ready to go the day this deal closes. ARV is $110K and I got it for $55K. With estimated rehab costs of 20-25K, Looking for a $30K profit!

Hello Everyone,
Hope everyone is doing well. Just curious if anyone knows if REI Wholesaling still works in Southern California. I'm an Educated Professional who was just laid off from my job last week. I see a lot of potential properties in the city where I live. I will start marketing to those properties and see what happens. Any advise will be greatly appreciated. Thanks in advance and have a great day! God bless you all!

Regards,