Промышленный лизинг Промышленный лизинг  Методички 

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CHAPTER


How to Buy Foreclosures





In this chapter we will teach you how to buy foreclosures. Most of you think that buying a foreclosure has to occur at a foreclosure sale. Foreclosure sales are usually conducted on the courthouse steps in the county the property is located. We will teach you how to buy a foreclosure on the courthouse steps. We will also teach you how to buy a foreclosure before it gets to the courthouse steps.

At one of the recent courthouse foreclosure sales we attended, there were over one thousand properties being auctioned in one day! This was the number of foreclosure sales for our county for one month! It was a total zoo. There were at least five hundred people trying to figure out what to do,whom to talk to,and where to bid. We bought nothing that day.

We are going to start you out with a better idea. Lets talk to the property owner who is in financial distress. They are headed down the road to a full-blown foreclosure. If we can identify these owners in distress early enough, we may be able to help them at the same time we help ourselves.

Owners in Financial Distress

There are two time periods to work with owners in financial distress. There is the time period before the lender files a notice of default at the county recorders office. And there is the time period after the lender



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