Admin

Foreclosure Auctions Are the Ones That Get You the Highest Net Deals

#ForeclosureAuctions #Repossession #AuctionBook #AuctionProcess #AuctionTraining 
These homes are sold "as is," but it does mean that the seller will try to get some money back out of the homeowner

These properties are usually offered up through an auction in which the highest bidder gets the property. 

Distressed properties are homes or properties that are for sale not because the owner wants to sell but because of pre-foreclosure, foreclosure, or repossession. Typically, the homeowner is in a bit of a financial mess, and so does his/her lender. This is where distressed properties come from. The lender will try to get some of their money back rather than the owner being evicted, which is the other option.

When one of these homes or properties goes to auction, the first bid is usually at the pre-foreclosure price, sometimes at what the lender has set as the pre-foreclosure price. Because of the foreclosure, the lender can not lower the price at this point, so at this point, it is more of a last resort than a starting point. These homes are sold "as is," but it does mean that the seller will try to get some money back out of the homeowner rather than just being evil and not returning any of the funds to the homeowner.

Because of the lender state, which is desperate to get back some of the money, this means the seller will be looking at a much lower bid than the asking price, which in these homes usually means a significant discount. This auction is also generally at the courthouse, so you have to make arrangements well in advance to make sure you are going to be able to go.

Once you go to the auction, you will inevitably buy the house because the lender wants to get the money back, not necessarily to sell the property. 

You need to have a number in mind; in the multiple, that is what you are looking at. If you bid and the property is not purchased, you will have to pay the difference out of pocket. It can get expensive because it is not always easy to get cash, but there is not much point in the auction if you can't get it.

Foreclosures are the "bad debt," ones that the lenders are trying to get rid of as quickly as possible, and they are always going to be sold at a discount. It is also very critical to know what you are doing and how to operate with these auctions because you are going to be bidding against people who are willing to pay the minimum bid to get the house, and the lender is not.




The only people who have any leverage at these auctions are the investors, and that is because they have the money to buy the property and can bid aggressively. It isn't easy to go after someone else who doesn't have money and doesn't have an agent.

Remember to do your homework before you get involved in this process.

I hope you found this article helpful? As you continue your quest for wealth and financial security, the investment strategies laid out in Think Like a Tycoon by Dr. W.G. Hill is the resource you should seriously consider. 

Think Like A Tycoon by W.G. Hill

How to Make a Million in Three Years or Less

I am a real estate investor for 10 years now and personally involved in 40 real estate transactions. With that said, this is the book to read. Read this book if interested in real estate investing. Don't if you aren't.
(Michael - Real Estate Investor)

Make your fortune from “distressed property” using other people’s money and this property tycoon’s no-brainer strategy

…NOW is your golden opportunity to turn bargain property deals into 1 MILLION in just 3 years…

…using other people’s money and this property tycoon’s no-brainer strategy…

What you have to do to secure your future and avoid becoming another government statistic

It’s simple: Make your fortune from “distressed property”. And Dr. W.G. Hill can show you how.

For your convenience, we have added a link to Think Like A Tycoon on all the Amazon marketplaces, for the fastest delivery please choose your local marketplace. If "Currently unavailable" choose the marketplace nearest your location.

Note! Think Like a Tycoon is only available in English.

America - Canada - Sweden - Germany - Italy -  France - Spain - Poland - Netherland -  Mexico - Brazil - India -  Japan - Singapore - United Kingdom - Australia & UAE ships from the UK!) - Saudi Arabia - China -

Stay tuned for more free videos, articles, tools, and other valuable resources.

Please continue the conversation for this post on the
Think Like a Tycoon Forum - LinkedIn - Facebook 

Email Post
Category

More Tips & Tricks You may also like…

Image

How To Find Distressed Properties For Sale

#PropertyInvestment #PropertyHunting #FirstTimeHomeBuyer #RealEstateAuction  Some people are skeptical of these opportunities. They think the deals not worth the trouble. But this is not true. The best deals to find are distressed properties that are cheap and reasonable. How To Find Distressed Properties For Sale The first thing to do is be clear of the risks involved in buying these properties. The key to doing business in a competitive market is to anticipate the needs of the market. The real estate business has become very competitive because of the number of homes entering the market. The market is filled with homes for sale. Most of them are distressed. How to Spot Distressed Properties For Sale There are certain signs that the homeowner may be under extreme financial strain. The homeowner may decide to sell the property very quickly. They may put their house up for sale below market value, especially in areas where competition is stiff. A distressed property is one that has ...
Learn more »
Image

Disclosure of Information on Foreclosure Listings

  #ForeclosedHomes #ForeclosedProperty #DistressedProperty #DistressedHome #PropertyTips The majority of distressed properties are occupied by individuals or couples in residential contracts with their lender to purchase a property.  I'm assuming this for several reasons. The first is that most distressed homes are sold "As-Is." They are bought with only a mortgage State". Secondly, many distressed home sales are made short sales". This means the homeowner has tried to contact their lender via servicing statements or other documentation. They've made references to their accountability period and final determination date. They've tried to get other agencies to assist them, such as a HUD counselor, but those agencies are also out of service. If your bank is a non-traditional lender, they are likely to have an occupancy mandate with homeowners they buy a distressed home from. This means they're not going to be doing any short sales, distressed sales, or...
Learn more »
Image

How to Get Started With Real Estate Investing

#RealEstateInvesting    #RealEstateInvestor    #MentorTips  That was a bold statement for sure, and I know it is a challenge to follow it. However, it is really not that hard to put it to work for you if you have the education, understanding, and resources to do so. Below are several strategies and suggestions that should help you succeed. First and foremost, seek out great investing mentors. When seeking out a mentor, you should know the criteria for an excellent mentor. Mentors should have worked in their field for at least two years or longer, be financially secure and able to work full time in the field of their choice, preferably in your industry, be someone who is already making money, and know what success looks like. You should build your relationship with your mentor by going into a local bar, chat, or phone call every few weeks to make sure you are not on the same page. A lousy mentor could drag you down and take away from your learning because your me...
Learn more »