Quote:
Originally posted by SureFire
Tips? Here is one real mean one. Find out why the person is selling and I don?t mean what the realtors or the owner say. If they are selling because they are facing foreclosure and you know it, you have real bargaining power. Don?t be fooled by the expensive cars parked in the driveway or garage nor the furniture.
Nice tip: make sure the dwelling has a solid foundation and roof.
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that is some more dumb info.
you can find out if the home is being forclosed on by going to city hall, as well as find out what liens, etc are on the home.
Takes 2 months to close, and unless you have the equity to purchase the home cash, you won't be able to get the pre-forclosure. Banks also do REO deals with investors paying cash, so you don't really have any bargaining power unless you are sitting on an open line of credit to buy the home outright.