How To Find Foreclosure Real Estate Deals

Are you still looking for a sweet foreclosure deal? I have found several personally this year, in fact, I find many more than I can afford to buy from a time or money standpoint. So am I just lucky? Well, some would say I have an element of luck in my life - I call it Faith in Action, but the principles of finding foreclosures are not that hard.

First let’s chat about what kinds of foreclosure deals exist:

Pre-Foreclosures. These are still owned by homeowners and can sometimes be picked up for a steal.
Short Sales. These are a form of pre-foreclosure that can often be picked up for pennies on the dollar, if you know how to negotiate with the banks.
Bank Owned Foreclosures. These are properties that the banks own because an owned defaulted on them, They usually need repair, and are challenging to get traditional mortgage financing on because of the condition. But, if you can find the right deal and negotiate the right terms, you can do very well.

So, how does one go about find these deals? Here are the simplest ways to find them:

1. Get to know a real estate investor. These are people in the know, so why go reinvent the wheel. Most of us are always in the market to help someone out who needs a property and everyone wins that way. We (the investors) get our properties sold, and you get a great deal, and usually a home in move-in condition as most investors fix up or spruce up their homes to sell them.

2. Get to know a real estate agent that specializes in them. Chances are, they will end up connecting you with an investor, or distressed seller, but not a bank owned property, because the bank owned properties are usually not in move-in condition which will make it hard to get a mortgage.

3. Subscribe to a foreclosure listing service. This will allow you to set your parameters and have these deals emailed right to you. All you have to do is go view them, write and offer, and the rest is history.

Our company is growing rapidly and we serve individuals in the Phoenix metro area who are seeking to buy properties at below market prices. If you are interested in finding out how to qualify give me (Anthony) a call at 800-453-9290 (my 24 hour voice mail).

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