Frustration at the courthouse
I went there again - spent a couple more hours - NOTHING
are they required to file preforclosures?
I found one preforclosure lis pendens and that is it.
I even looked up a property that was forclosed and then all documents on that property so that I might find some hints as what to look for. Even in the history of some known forclosures I found no documents other then the mortgage, the deed, then the sheriffs deed.
HELP!!!
Thanks
scott
I'm having the same problem myself. I went to the courthouse in a neighboring (rather large) county and found only 1 preforeclosure by searching lis pendens that day. Ugh! I feel your pain. I took advice from Derrick and other posts and feel as if I'm looking in the right place. But the results are not what I've expected. I wonder if you pre-F gurus out there could maybe give an estimate of what you find. For instance, you go in and search past 60 days of lis pendens. How many do you normally find? I know that the results are dependant largely on county size but I figure with enough replys to this post we could get a good average nation-wide. I'm in Atlanta. Any thoughts?
[addsig]
ALCON,
I commend your effort, courthouse research requires great time and patience. May I suggest a more efficient method of records investigation/preparation.
Georgia is a tax lien state therefore has a list of those properties which have come to the delinquents lists. I believe they have 1 year to redeem in GA. If you like narrow your selection to only the properties that are close to the auction date. Also look if the owner lives out of state (hey maybe they're tired of the property) Since you're focusing on SFR's you can set that as another parameter. You need to narrow the list down. There will be literally thousands of properties on the block (mostly raw land) Another opportunity. You choose. I've never done GA. (Just AR) You need to become familiar with they're statutes. It varies from state to state. (The devil is in the details) They have a 10% redemption rate there for the TLC's.
check out www.taxsales.com - incredible amount of info for free. Great program as well. Great investing!
Aloha!
Addendum to my last post.
This website is very useful for all kinds of research.
http://www.geocities.com/PicketFence/4798/states.htm
Happy hunting!
Thanks for the response regarding tax lien listings. I may give that angle a try tomorrow myself!
[addsig]
Drifter,
Check out what the laws and the process for FC's are in your state. You should have a state website for the Department of Banking that might give you the info you need.
As for the investor in Atlanta, you guys have about 4-500 FC's per month. Are you a member of the REIA? If not join they have one of the biggest REIA's in the country and have a great office you can do some reasearch at.
Hope this helps,
Juan