Pre-foreclosure - not in MLS - Posted by Kim (FL)

Posted by Rob FL on March 13, 2002 at 11:36:48:

Why not knock on their front door and ask see what they have to say instead of trying to guess?

Pre-foreclosure - not in MLS - Posted by Kim (FL)

Posted by Kim (FL) on March 12, 2002 at 11:19:50:

Hi! Everytime I’ve bought a home, it’s been through a realtor. I want to find good deals that may not be in MLS. I have a great realtor contact that will help me find pre-foreclosures but I want to “know my stuff” before I bug him. I like to be self-sufficient. Here’s what I’m doing:

  1. I’m in Florida
  2. I looked up the foreclosure records for my county (Seminole), it lists the address, owners and the date of the foreclosure.
  3. I can then jump to the tax rolls with the address to find out when the home was bought, what the assessed value is and what they bought it for.

Here are my questions:

  1. How can I find out their liens?
  2. Why would someone who bought a home in 1986 for 100k with a current assessed value of 160k (which means it could probably sell for more than 180k) let their home “go” with out selling it? There?s one on this list that will be final next Tuesday, I drove by (it’s in my immediate neighborhood) and it’s in great condition. There’s no sign up either. Why are they not taking action? Is it a) because they’ve resolved their situation, b) because they’re not willing to face the facts or c) something that I?m missing?

SO – how can I buy this house? Yes - I have cash (private investor who will give me cash up to 120k within a 24 hour notice). I feel like this should be very simple. I feel like my realtor can call him (after pulling comps) and tell him that we’ll give him cash THIS week and he can walk. I’m missing something aren’t I, because it seems like some other cash investor could have done this already.

Please, let me know your thoughts.

By the way – we rehab. Again, I understand the “traditional” market (find a house in MLS at well under value) but I want to get into the pre-foreclosure market that’s not in MLS to get more deals.


Kim (FL)