to receive the precise answer you need to ask more precise question and many of us here would be glad to help.
Depends on your state law, once the BANK takes it, you are out of luck unless you have the redemption period like the Texans do; 6 mo, pretty generous for my taste!
Short the redemption time Texas and foreign state investors would gladly come.
New to the game and asking for advice on how to handle the paperwork of a pre-foreclosure. OK, so I talk someone into selling me their home before the auction. I see what kind of outstanding liens are on the property through a title search, figure out how much is still owed on the delinquent mortgage, and give the owner some cash to walk with on top of that. I have them sign a purchase agreement. Now where do I go from there?
I am trying to get stated off as an investor and heard that pre forclosures is the way to go. Now i have no previous experience in pre forclosures only in fsbo's. So my question was "How can i find pre forclosures or distressed properties?" I would really apreciate all the help i can get .
Thank You
Where do I find nex tax foreclosures in Dallas and how do I pay for them?
_________________
I Want to Sell a Lot of Cars, Farms and Have a Lot of Fun Guys. That's life in Dallas. Yeah! Go Texas! [ Edited by DealerJo on Date 02/27/2004 ]
YOu should really get John's book if you dont have it already. It have a guide in there that tells you exactly what paperwork you need when buying and selling, it also shows you when to give it to the seller.
I have learned a lot from the forums as well. I went back through the archives and just read until my eyes hurt. So much useful information on here and the people on here are so nice and helpful. You have definately come to the right place.
negative
Depends on what you call "control"
Once a property is a REO then it is basicaly a REPO. it has been taken away for it to be resold to satify the debt.
However, if there is a redemption period then all control is not lost untill that is over!!
Welcome to TCI bigdemtp41,
to receive the precise answer you need to ask more precise question and many of us here would be glad to help.
Depends on your state law, once the BANK takes it, you are out of luck unless you have the redemption period like the Texans do; 6 mo, pretty generous for my taste!
Short the redemption time Texas and foreign state investors would gladly come.
In Alabama we have a 1 year redemption period.
I just read on this...there is NO right of redemption in Texas.
You are correct. there is no redemption in Texas except for a Tax foreclosure.
New to the game and asking for advice on how to handle the paperwork of a pre-foreclosure. OK, so I talk someone into selling me their home before the auction. I see what kind of outstanding liens are on the property through a title search, figure out how much is still owed on the delinquent mortgage, and give the owner some cash to walk with on top of that. I have them sign a purchase agreement. Now where do I go from there?
I am trying to get stated off as an investor and heard that pre forclosures is the way to go. Now i have no previous experience in pre forclosures only in fsbo's. So my question was "How can i find pre forclosures or distressed properties?" I would really apreciate all the help i can get .
Thank You
Are tax foreclosures good money savers?
Where do I find nex tax foreclosures in Dallas and how do I pay for them?
_________________
I Want to Sell a Lot of Cars, Farms and Have a Lot of Fun Guys. That's life in Dallas. Yeah! Go Texas! [ Edited by DealerJo on Date 02/27/2004 ]
Does anyone have any advice that they'd be willing to lay on me regarding my question a few posts up? Thanks so much.
adambeal1,
YOu should really get John's book if you dont have it already. It have a guide in there that tells you exactly what paperwork you need when buying and selling, it also shows you when to give it to the seller.
Kelly
Kelly:
You mean John Locke's book? Does he have more than one? Is there one in particular? Thank you thank you.
Yes his "Subto, That's What I Do"
John sure seems to be the man about town as far as TCI folks are concerned. I'm convinced. John, you have another buyer. Thanks.
I have learned a lot from the forums as well. I went back through the archives and just read until my eyes hurt. So much useful information on here and the people on here are so nice and helpful. You have definately come to the right place.
Kelly