Short sale list?? - Posted by phil d

Posted by John on August 26, 2005 at 08:36:32:

That is the public notice that a foreclosure is in progress. It is called (NOD) notice of default or Lis Pendens depending on your states foreclosure laws. It is available at the court house recorders office free. Spend some time there reasearching records it is a wealth of infomation and could be online depending on your county, some are some not.
Just because a property is going into foreclosure does not mean it is a short sale canidate. If the is alot of equity and minor repairs the lenders probably won’t budge, however if little equity and numerous repairs it may be possible. The Guru’s have been preaching short sales and the lenders have gotten wise. In an appreciating market like we have had most time there is equity if repairs are minor, so short sales are rare but do happen. Some lenders will do them others will not. It has to be in the best interest of lender to approve short sale, not just to make profit for the investor. Get a course on short sales and learn about them. These properties may be good deals without a short sale so market to homeowners of these and see if you can solve their problem and make a buck in the process.
Good luck

Short sale list?? - Posted by phil d

Posted by phil d on August 25, 2005 at 17:14:48:

I have read and talked to a agent who gets a list of short sale properties. Where can you find it and is it public knowlege. I am in the Dalls/Fort worth market. thanks

Re: Short sale list?? - Posted by John

Posted by John on August 25, 2005 at 21:08:04:

Never heard of short sale lists! Do you mean NOD lists?

Re: Short sale list?? - Posted by phil d

Posted by phil d on August 25, 2005 at 21:47:36:

Agent said that 21 days prior to a formal foreclosure on a house it becomes public information. She uses this info to approach homeowner to try to negotiate a short sale. thanks