Newspaper Listings
Hello all again,
ok I have another question. I have been doing some research on pre-forclosures and going down to the deeds office is a pain. So there are two newspapers that list the people that are going into foreclosure. Now when I get these papers some investors are telling me to do a title search and then other investors say that I need to send the letters out first and when people reply then do a title search. I'm confused and need help. Which one should I do? Also there are a list of divorces that are in the newspaper as well. Do I need to send a letter to them as well? and If so does anyone have a sample letter that I can use? Thanks in advance for the help
What exactly, in your Trust Deed, Nonjudicial foreclosure state, do the newspaper advisos state?
If they announce a scheduled Foreclosure Sale date, that's one thing. But if they simply indicate "people going into foreclosure" that's quite another.
I wouldn't waste time/money on any title work unless/until you've had a face to face with the Homeowner... and have an inkling as to what they want to do. Irrespective of what you may want to do, a simple prequalification would be in order. As far as titlework? Just ask them. If they have a laundry list of judgments that would need to be satisfied with proceeds from sale... consider that a red flag.
An hour spent in simple prequalification can help avoid the common pitfalls that many speculative investors encounter.
[addsig]