Case study in finding pre-foreclosures
People usually think that pre-foreclosures and foreclosures are for the lucky or for sharp, savvy people who can find a great deal anywhere. Thats just not the case. Lets take a look at a case study in good fortune.
A couple is looking for a home that is handicap accessible but have very little money to put towards a down payment. Their parents will be able to help, but in order to afford a house, they need to find a great deal. So they went to the local modular home showroom and began talking to the salesman. He told them that he actually had a home that hasnt been completely finished yet on about 2 acres of land. The lady that bought and had the home built wasnt going to be able to complete it. He was trying to talk her into letting him buy the home back so that she didnt go into foreclosure. If she decided to go that route, he would be able to sell them the house for less than the value of the house. In other words, he sent them to a possible pre-foreclosure property to look at. They loved it!
They were able to find out about a pre-foreclosure before it became official. What a great find! That way, they are able to pick up the property for what is owed on it instead of paying full market value on a brand new home. This will be vital for the couple as they are in need of a handicapped accessible home without being able to pay the extra cost for the amenities. Obviously, they have to put most of their money into medical expenses so they needed to find the perfect home with the perfect price tag.
Pre-foreclosures arent for just the special or privileged. Anyone can find a great deal with just a little effort and leg work. You can always find a good deal in a resell home but the chances of finding as good a deal as a pre-foreclosure or full foreclosure is not likely. Of course, the easiest way to find a great deal on a pre-foreclosure is to contact me and let me show you the latest listings of pre- and actual foreclosures.
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